In most states, you can refinance an existing loan into a new one with updated terms, as long as:

• Your loan has been open for more than 60 days
• Your current LTV is 50% or lower
• Your remaining loan principal meets the minimum loan amount

How refinancing works

There is no fee to refinance. You must first repay any accrued outstanding interest from your cash or bitcoin balance.

A new loan is opened for the exact amount of your remaining principal, and your existing loan's collateral transfers directly to it. No additional funds are sent to you. You simply keep your original loan proceeds for another 12 months.

Your refinanced loan starts a new 12-month term. The payment structure stays the same. If your previous loan had monthly payments, so will the new one. If it was payment at maturity, the new loan would be too.

How to refinance

1. Tap your LTV Tracker on the Cash tab to open your Loan Center
2. Scroll down and tap Refinance your loan
3. Pay any accrued outstanding interest
4. Review and sign the new agreement

Once confirmed, your existing loan closes, and the new one begins immediately.

If you have multiple loans, you can also consolidate them into one to simplify management and potentially unlock a lower Annual Percentage Rate (APR).

¹ Refinancing is not yet available in California, Ohio, Mississippi, Tennessee, Texas, or Virginia.