CommonBond Student Loan Refinance Review

CommonBond Student Loan Refinance is a student loan refinance offering by CommonBond, . Founded in 2012, CommonBond offers student loan refinancing in 45 states (and Washington, DC).

What APRs does CommonBond Student Loan Refinance offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

CommonBond Student Loan Refinance offers variable rate APRs that range from 2.72% to 7.4%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 3.2% to 7.25% APR.

How much can you borrow via CommonBond Student Loan Refinance?

Loan amounts start at $5,000 and go up to $500,000

Does CommonBond Student Loan Refinance charge an origination fee?

No, CommonBond Student Loan Refinance does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does CommonBond Student Loan Refinance charge prepayment fees?

No, CommonBond Student Loan Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does CommonBond Student Loan Refinance offer?

CommonBond Student Loan Refinance provides refinancing loans of 5 to 20 years.

It also offers borrowers unemployment protection. This means that if you lose your job through no fault of your own your loan payments may qualify for a temporary hold.

What type of borrowers will CommonBond Student Loan Refinance consider?

CommonBond Student Loan Refinance considers loans applications from:

• undergraduate degree holders
• graduate degree holders
• parents of graduates

What do you need to qualify for CommonBond Student Loan Refinance?

Applicants with a credit score of at least 660 and up to 850 are eligible for CommonBond Student Loan Refinance.

CommonBond Student Loan Refinance does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

What is the estimated funding time for a student loan refinance via CommonBond Student Loan Refinance?

CommonBond Student Loan Refinance will typically fund loans within 7 and 14 days of approval.