Often, yes. When the lending pool can support it, your property page shows a Refinance button in place of (or alongside) Borrow.
Refinancing replaces your current loan with a new one at the terms the pool offers today. You set the new amount and duration with the same sliders, and the new APR: and Final Payment: are shown before you confirm. The durations you can pick on the Duration slider are whatever terms the pool currently offers. Nothing changes until you accept the new terms.
There is no set limit on how many times you can refinance: you can typically do it again and again, as long as the pool will fund a new loan each time.
Two things to know:
Availability is not guaranteed. The Refinance option depends on the same checks as a new loan: pool funds, your provenance score, and current property taxes. If it is not showing, those checks are the reason.
Watch your email near the due date. As your loan approaches maturity, our reminder emails will offer an extension when one is available. That is often the easiest way to get more time.
If you cannot refinance and cannot repay by the due date, read “What if I can’t repay my loan?” in this collection now rather than later. Acting before the due date gives you the most options.
If you get stuck, open the chat bubble in the corner and we’ll help.
Learn more:Pool lending