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What does it mean to refinance my loan through the OppLoans Platform?
The OppLoans Platform allows eligible customers to apply for a refinance and, if approved, receive additional funds from one of our lending partners. Your refinanced loan will continue to be serviced by OppLoans.
Generally, a refinance through the OppLoans Platform allows you to borrow the difference between your existing loan and what you’ve paid toward the principal on your existing loan. However, those who qualify may be eligible for a higher refinance loan amount.
If your application is approved, you may be eligible to receive funds as soon as the same business day.1
Keep in mind, refinancing means more money to pay back plus interest and may not be the best option for everyone.