WeFinance is a student loans lender based in San Francisco, CA. It was founded in 2014 and offers student loan refinancing in 50 states (and Washington, DC).
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.
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.
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.
WeFinance provides refinancing loans of 1 to 3 years.
WeFinance considers loans applications from:
Active duty servicemembers and their covered dependents cannot apply for a loan via WeFinance. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
WeFinance will typically fund loans within 7 and 14 days of approval.
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