NaviRefi Disclosures
Interest Rate Disclosure
Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.50% APR to 10.74% APR (4.25% - 10.49% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.74% APR (5.88% - 10.49% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and require selection of our shortest term offered (5 years) and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Auto-Pay Disclosure
You can take advantage of the 0.25% Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction.
No Fees Disclosure
We do not charge fees for origination, late payments, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Lender Identification
NaviRefi loans are made by Earnest Operations LLC (NMLS# 1204917), a member of the Navient family of companies, subject to individual approval and underwriting criteria. California residents only: Loans made or arranged pursuant to California Finance Lenders Law license. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit https://apply2.navirefi.com/lending-licenses for a full list of licensed states.
Navient Solutions, LLC - NMLS #212430 - 123 Justison St., Wilmington, DE 19801 - California Finance Lender (Broker) License 60DBO-107005, Maine Loan Broker License # 212430, North Dakota Money Broker License MB1
Mentor receives compensation from Navient on a per-funded loan basis.
