How to rollover your loan
If you would like to continue your loan beyond the term duration, within 3 months of the loan duration ending, you will see a button appear in your active loan dashboard called "Rollover".
You can click on "Rollover" and choose a new term duration up to 2 years and extend your loan term. You do not have to pay back your principal in this scenario and the loan continues at the prevailing interest rate offered at the time of rollover.
Common questions
How is the origination fee handled?
In the case of rollovers, where no net new money is disbursed, the loan will be increased slightly to adjust for the origination fee. You'll a slightly different loan amount to cover the origination fee.
Can I rollover my loan early?
If you would like to roll over your loan before the last few statements, an Arch team member can selectively turn this on for you. Just reach out to the team via the Intercom chat widget in the bottom right corner of the app.
What happens to my AutoPay on the old loan?
When you rollover a loan we automatically disable autopay. You're able to immediately configure autopay for the new loan with whatever settings you'd like. Since you're statement dates likely changed as part of the roll over, we offer our clients a way to set it up to best match their needs.