Check your current loan balance, interest rate, term, and payoff amount
Review your credit score and credit report
Set your refinancing goal
Compare lenders and refinance offers
Gather required documents
Submit a refinance application
Lock in the interest rate if available
Review the loan terms and closing costs
Compare the new monthly payment and total repayment cost
Sign the refinance documents
Use the new loan to pay off the old loan
Confirm the old loan is closed
Make payments on the new loan on time