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Refinance FAQs

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A loan refinance through OppLoans allows you the opportunity to apply and, if approved, receive more money. You do this by applying to reborrow part of what you’ve paid toward the principal on your existing loan. (Those who qualify may be able to receive more.) If your application is approved by us or one of …
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You can receive part of the amount that you’ve paid toward the principal on your current loan. For instance, if you’ve paid $500 of the principal on your current loan, you can apply to refinance your loan to receive up to $500. In some instances you may have the option of applying for more than …
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In most instances, your refinanced loan will have the same interest rate as your current loan.

In order to be eligible for a refinance, you must have paid at least 15% or $400 towards your current loan balance (whichever comes first) and you cannot be in a past due status. Sign In to see if you qualify for a refinance.

Sign in to your customer portal to apply for a loan refinance. If you meet the eligibility requirements, you will see a “Refinance Now” option to apply.

Approval is not guaranteed when you apply for a loan refinance. Neither we nor our bank partners has a minimum FICO score to qualify for a loan. Instead, the application process takes into account various factors from the alternate credit bureaus and your bank data to determine your eligibility.
If your application is denied, you will …
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You will receive a new payment schedule when you refinance your loan.

Yes. Once you meet the eligibility requirements on your refinanced loan, you can apply to refinance again to receive additional funds.
Before you refinance your loan, ensure that doing so makes sense for your unique financial situation. Ask yourself:

Do I need to borrow this money?
Can I afford to make the scheduled payments?
Do I have other credit …
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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 bank partners.
Be assured that you still will only have one active loan account originated and/or serviced by us.

Refinancing your loan with OppLoans or one of our bank partners provides additional funds. However, this means more money to pay back plus interest. Before you refinance your loan, ask yourself:

Do I need to borrow this money?
Can I afford to make the scheduled payments?
Do I have other credit options?

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Applications submitted on this website may be originated by one of several lenders, including: Opportunity Financial LLC, a licensed lender in certain states; or one of our lending partners. All loans originated by our lending partners will be serviced by OppLoans.

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1Subject to credit approval and verification. Actual approved loan amount and terms are dependent on standard underwriting guidelines and credit policies. Funds are typically deposited via ACH for delivery for next business day if verification is completed and final approval occurs before 8:00 PM CT, Monday-Friday. Availability of the funds is dependent on how quickly your bank processes the transaction.

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