Once you pay off your existing loan, you may be eligible for a prorated refund of the unearned portion of the origination fee over 5%. For example, if the origination fee on your existing loan was 6%, you'll get a prorated refund for 1% of the origination fee.
After my existing loan is paid off, do I get a refund of my origination fee?
Additional Payments FAQ
Keep more of what you earn and earn more on what you save.
Check your rate. It won’t impact your credit score.2
LendingClub Resources
Related Articles
The typical investment mix of long-term loans and securities may turn out to yield lackluster results. Banks may have another investment option: consumer credit.
Budgeting is a lifelong money management skill that can help you control your spending, save for the unexpected, and build a strong financial foundation.
Your credit utilization rate measures the balances of your revolving accounts against your credit limits. Naturally, your ratio can influence your credit scores. A low utilization rate could improve your credit scores while a high utilization rate may hurt them.
Auto loan refinancing is when you use a new car loan to pay down your old loan—often with a lower monthly payment or interest rate.
Debt consolidation is a debt management strategy that uses methods like a debt consolidation loan to combine multiple debts into an easy-to-manage monthly payment—usually with a lower interest rate.[1]
Related FAQ's
Rates and fees for your auto refinance loan depend on several factors, like your credit history and income. We’ll let you know about any potential fees or other costs during the application process, so you can be sure you’re making the right choice.
No. If your monthly payment amount is $300 but you pay $400, you will still receive $6.00 (2% x $300) in cash back.
Your debit or ATM card should arrive within 7-10 business days after you’ve opened your account.
Members can open a LevelUp Checking account.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
Your Privacy Choices
