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Can you refinance a personal loan?
Summary by The El Paso Editorial Desk Stacker , as published by KVIA ABC-7
· August 18, 2026
· 1 min read
Photo: KVIA ABC-7 · view original
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Summary created by The El Paso Editorial Desk — automated, rule-governed Byline on source page Stacker, as published by KVIA ABC-7 Original story Read at the source Source published Aug 18, 2026 Indexed here Aug 18, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key points Some lenders refer to this as a "loan renewal". Further details on refinancing a personal loan, including the process and its benefits, are available from OneMain Financial, which has broken down the refinance process and its potential advantages.
Refinancing a personal loan can be an option when the current terms no longer fit budget or financial goals. This process involves taking out a new loan to pay off the existing one, replacing it with new terms. Some lenders refer to this as a "loan renewal".
Reasons for refinancing include getting a lower interest rate, changing the monthly payment amount, or adjusting the repayment timeline. Borrowing more money is also a possible reason.
Further details on refinancing a personal loan, including the process and its benefits, are available from OneMain Financial, which has broken down the refinance process and its potential advantages.
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Category: News Published: August 18, 2026 Source: KVIA ABC-7 Reading time: 1 min
Frequently asked about this story
What is this story about? Refinancing a personal loan can be an option when the current terms no longer fit budget or financial goals. This process involves taking out a new loan to pay off the existing one, replacing it with…
When was this published? This article was first published on August 18, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by Stacker at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more News coverage from The El Paso, or browse our daily briefing and topic hubs .
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