How do I pay off my loan?

If you plan to pay off your loan once it reaches maturity, simply allow your autopayment to process as usual. The last autopayment will include any due interest + a balloon payment to pay off the principal balance. If you'd like to refinance your loan, you should take out a new loan of equal or greater value before your original loan reaches its maturity date. This way, once the new loan has been funded you may use the proceeds to pay off your existing loan.


Related questions

Are there late fees if I miss a payment?

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Milo Credit, LLC is a direct lender and licensed under NMLS #1811449.
Loans made or arranged pursuant to a California Finance Lenders Law License 60DBO-128284. Not available in all states. Equal Housing Lender. NMLS Consumer Access

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