Loan Transfer

A loan transfer, also known as loan refinancing, involves moving an existing loan from one lender to another or changing the terms of the loan with the same lender. This process is often undertaken to secure better loan terms, such as lower interest rates, extended repayment periods, or to consolidate multiple loans. Common types of loans that can be transferred include mortgages, student loans, auto loans, personal loans, and business loans. Loan transfers can help borrowers save money, reduce monthly payments, and simplify their financial arrangements. However, it's crucial to assess the terms and fees associated with the transfer and determine if it aligns with your financial goals.