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Good morning, I bought a new car 6 months ago and I'm looking to refinance my loan through USAA. I am hoping to get a lower APR and monthly payment as I am going to be buying my first home in the next few months. Will applying for the loan re-finance through USAA run a hard inquiry on my credit report? I already had a hard inquiry when I applied for a home loan and would like to avoid another if possible. Thanks for your help navigating this!


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Hi there, @Bobcat817.  Yes, a hard inquiry would be ran for any financing or credit extension.  USAA does consider each loan application on a "case-by-case" basis, and considers the "360" view of your entire credit and account profiles when rendering a loan decision. We consider several factors such as both your USAA and credit profiles, including your debt to income ratio, banking account management, credit score, and history with USAA. However, ultimately, you must credit qualify for the lower rates.

USAA continues to be the provider of choice of the military community not only because we offer loan products; we also work diligently to facilitate the financial security of our members. ~Jen

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Hi there, @Bobcat817.  Yes, a hard inquiry would be ran for any financing or credit extension.  USAA does consider each loan application on a "case-by-case" basis, and considers the "360" view of your entire credit and account profiles when rendering a loan decision. We consider several factors such as both your USAA and credit profiles, including your debt to income ratio, banking account management, credit score, and history with USAA. However, ultimately, you must credit qualify for the lower rates.

USAA continues to be the provider of choice of the military community not only because we offer loan products; we also work diligently to facilitate the financial security of our members. ~Jen

View solution in original post