Where does WeFinance do business?
WeFinance is based in San Francisco, CA. It was founded in 2014 and offers student loan refinancing in 50 states (and Washington, DC).
What APRs does WeFinance 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.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 0% to 20% APR.
Does WeFinance charge an origination fee?
No, WeFinance 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 WeFinance charge prepayment fees?
Yes, WeFinance charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.
What terms does WeFinance offer?
WeFinance provides refinancing loans of 1 to 3 years.
What type of borrowers will WeFinance consider?
WeFinance considers loans applications from:
- undergraduate degree holders
- graduate degree holders
- parents of graduates
What do you need to qualify for a WeFinance student loan refinance?
WeFinance doesn’t disclose its credit score minimum.
What is the estimated funding time for a student loan refinance via WeFinance?
WeFinance will typically fund loans within 7 and 14 days of approval.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia