Upstart is a lending platform that connects borrowers with professional personal loan lenders using artificial intelligence, and it is one of the first startups to improve access to personal loans by leveraging technology. Upstart partner lenders can offer personal loans ranging from $1,000 to $50,000 for loan terms of three to five years.
If you want to or due to other reasons, you can actually refinance an Upstart personal loan with a new personal loan from another lender. You can check out online brokers such as iPaydayLoans to access a pool of reputable lenders offering personal loans with competitive rates and terms. When you get approved for a lower-cost loan from the new lender, you can transfer the debt to them and save money on loan interest and fees.
How To Refinance An Upstart Loan With A New Loan
Upstart is well-regarded for its innovative approach to easing personal financing challenges, but sometimes, plans have changed. You may want to check out other lenders who offer better terms and pricing if you need alter financial solutions. Here’s how you can consolidate an Upstart loan with a better-priced loan from another lender:
- Check your financial status. Self-finance evaluation includes checking your credit score for errors and recent bank statement. Monitoring your financial status also allows you to improve your subpar credit on time.
- Submit a new loan application. Request for a new loan and submit relevant details.
- Look for appropriate offers. Once approved, review and select the offer that suits your situation, and sign the loan agreements.
- Wait to get funded. Since all the process is now been done online, most lenders will send the funds to your account in no more than 3 business days.
- Liquidate your existing loan. Pay off your old loan's outstanding balance with the new loan proceeds.
- Commence repayment on the new loan. The new loan starts running in earnest, and you'll have to ensure timely monthly repayments
Loan Alternatives
iPaydayLoans, WeLoans, CocoLoans, US Installment Loans, and CashAdvance are some of the recommended online marketplaces that can link you to lenders who offer personal loans with reasonable terms to refinance your current loans.
As our top pick, iPaydayLoans is an excellent platform to get personal loans of up to $35,000 to refinance your more expensive loans or sort out large expenses. The application process is entirely online and straightforward. You'll get approved within minutes of submitting your details on their website, and after selecting the offer that most appeals to you, funding won't take more than 72 hours. Of course, iPaydayLoans lenders offer reasonable interest rates and fees — so you can refinance an Upstart loan with a less costly alternative.