Purefy Parent PLUS Loan Refinance Review
Purefy is a national online lender founded in 2014 and is based in Washington, D.C. and Richmond, VA. Purefy grew out of a community bank and its goal is to help college graduates and parents get out of student faster. In addition to low interest rates, Purefy offers 5, 8, 10, 12, 15 and 20-year student loan repayment plans. On average, Purefy members save $18,423 and lower their interest rate by 2.12%.
Purefy Parent PLUS Loan Refinance Overview
|Fixed Rate:||3.50% - 8.24%|
|Variable Rate:||2.58% - 7.93%|
|Minimum Loan Amount:||$7,500|
|Maximum Loan Amount:||$300,000|
|Minimum Loan Term:||5 years|
|Maximum Loan Term:||20 years|
*Fixed and variable rates are based on APRs. Variable rates include an ACH AutoPay interest rate reduction of 0.25%.
|Requirement||Description||Average Purefy Borrower|
|Citizenship||U.S. citizenship or permanent resident||-|
|Annual Income:||At least $24,000 (or $0 for a couple loan)||$77,000|
|Credit Score:||680 (no co-signer); 620 (with a co-signer)||770|
Loan eligibility may depend on a number of additional factors, including your financial history and monthly income vs. expenses.
- Current loan information/documents
- Proof of income and employment (e.g., recent pay stubs)
- Lemonade Tip: Parents can save substantial money when they refinance higher cost Parent PLUS or other private loans. Another option for parents is to become (or remain) a cosigner to help your children get lower rates when they refinance their student loans.
Applying is super easy – get your new rate within 2 minutes
*Checking your rate will not affect your credit score.
The Best Lenders To Refinance and Consolidate Parent PLUS Loans in 2017
Want to save money on your Parent PLUS Loans? These lenders represent our top Parent PLUS Loan refinancing picks for 2017, and may be able to help you save thousands of dollars on your Parent PLUS Loan by offering lower interest rates and lower monthly payments. That’s real money back in your pocket.
Learn your new Parent PLUS Loan interest rate in minutes.