+ LR-Icons

Frequently Asked Questions

  • What is a cash-out refinance?

    A cash-out refinance is when you unlock the equity in your home by refinancing your existing mortgage for more than what you owe. This will give you access to the equity to pay off high-interest debt, complete some home improvements, or help pay for college tuition.

  • Can I make additional payments to my Laurel Road loan?

    You may make additional payments greater than the installment amount at any time without penalty. Additional payments are applied to your principal balance after all outstanding interest is satisfied.

  • How will my payments be applied to my Laurel Road Loan?

    Standard Payment Application: Payment is applied first toward any late fees, next to outstanding accrued interest then to the principal balance.

    Partial Payments: Payments less than the required monthly installment amount are applied using the standard payment application. Payments less than the required monthly amount may cause your account to become delinquent. We may report information about your account to consumer reporting agencies. Late payments, missed payments or defaults on your account may be reflected on your credit report.

  • How do I keep my personal information secure?

    For information about how you can protect yourself, please visit the Laurel Road Bank Security Center here.


  • Who can I contact for help with my student loans?

    You can contact Laurel Road by sending an email to help@laurelroad.com. Or, you can call us at (855) 245-0989 between the hours of 8:30am to 8:30pm EST Monday through Thursday, and between 8:30am to 5:30pm on Friday. Live chat is available 8:30am to 8:30pm EST Monday through Thursday, and between 8:30am to 5:30pm on Friday and Saturday.

  • Does Laurel Road charge pre-payment penalties?

    No, none of our product offerings have pre-payment penalties.

  • How long does an appraisal take?

    Typically, the appraisal report is available within seven business days from the inspection date.

  • Does Laurel Road charge lender fees?

    Yes, our fees include underwriting, credit report, and flood-verification fees.

  • Why do I need an appraisal?

    An appraisal is required because a mortgage is a secured loan. We need to verify the value of the collateral in order to determine if it is sufficient when compared to the loan amount.

  • Does Laurel Road offer HELOCs or second mortgages?

    We do offer second mortgages in certain cases; however, at this time we do not offer HELOC (Home Equity Line of Credit).

1 2 3 4 5 13