Student loan refinancings are back in the news after a surge of interest.
A student loan company called Refinamo, which is based in Virginia, said on Tuesday it had refinanced 1,600 student loans.
That’s up from just 804 in January.
Refinacos website says it has a record of nearly $100 million in sales this year.
It also has a strong track record of success with student loans in the U.S. But it says it doesn’t charge interest on student loans, and is not regulated by the Federal Reserve.
Some students are taking advantage of the refinance program, including a family of four who paid about $8,000 for a loan to refinance a $40,000 home, said the family’s lawyer, Paul J. Laskow.
The family says it plans to keep the home for future generations.
The loan refinancer, J.H. Jeter, a former hedge fund manager and investor, said he expects the refinancing business to grow in the future.
He said he would like to see the number of refinancings rise to the 10,000 mark by the end of the year.
He also said that some borrowers are taking out new refinancing programs, like a $50,000 loan to refinance a $1 million house, to refinances homes they already own.
Refinance deals typically require borrowers to pay a down payment and closing costs, and a loan modification to reduce the interest rate.
Refining rates vary from state to state.
The refinancing market is heating up.
Lenders have begun to offer discounts on mortgages, with the biggest discounts starting to be offered in the Bay Area.
In the Bay area, banks have offered discounts of up to 25% for borrowers who refinanced a home with a refinancing company.
Bank of America said it would offer a 10% discount on the first $100,000 in home purchases for borrowers refinancing with Refinamos.
And Wells Fargo said it will give a 10-year-free refinance to borrowers who refinance with its refinancing services.
It is unclear whether borrowers would be eligible for other discounts, such as credit insurance.
In a statement, Refinamonos CEO Mike Gough said the company is a leader in refinancing.
“As a small, family-owned company with an incredible history of helping borrowers refinance their homes, Refinitas services are one of the fastest-growing and best-performing refinancing companies in the world,” Gough wrote in a statement.
“Refinamo is committed to helping our customers refinance and is proud to be part of the national refinance marketplace.”
The interest rate on a student loan is usually less than the value of the home.
But refinancing offers may offer lower interest rates, which could help borrowers afford their loans.
The federal government has a program called the Low-Income Home Energy Assistance Program that helps low-income borrowers refinances, but borrowers are limited to the maximum cost of the loan.
The Federal Housing Administration said it expects to see more refinancing activity in the coming months.
Refinances typically last up to 10 years.
But the Federal Housing Finance Agency has said refinancing is a better option for many borrowers.
The agency is investigating whether to regulate refinancing companies, but said the program could expand to cover more borrowers.