How will a refinance on my loan impact my credit report?
When you successfully refinance your loan, your credit report may look different. That’s because once you complete your refinance, you will have closed your original loan and opened a new loan with us or one of our lending partners. We report this to the credit bureaus, monthly, in a file that includes the latest information on your account.
We suggest that you reach out to each bureau for more information about how opening and closing of accounts affects your credit score, as this information may vary from bureau to bureau. Be assured that you still will only have one active loan account originated and/or serviced by us.