Can I refinance my loan?
Yes. You can refinance an existing loan into a new one with updated terms, as long as your loan meets these criteria:
- Your loan has been open for more than 60 days
- Your current LTV is 50% or lower
- Your remaining loan principal is at least the minimum loan amount
Key points to understand before refinancing:
- There is no fee to refinance
- Your existing loan’s principal is paid off using the new loan’s proceeds
- Your existing loan’s collateral will be transferred directly to your new loan
- You must repay any accrued outstanding interest from your cash or bitcoin balance
- Your refinanced loan will start a new 12-month term with the latest terms, including interest rate
- The new loan will be the same loan type as the existing loan—this cannot be updated
How to refinance:
If eligible, you can refinance your loan by visiting your Loan Center and following these steps:
- Tap your LTV Tracker to open your Loan Center
- Scroll down and tap “Refinance your loan”
- Pay any accrued outstanding interest
- Review and sign the new agreement
Once confirmed, your existing loan will be closed, and your new loan will begin immediately.