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Personal Loans

Refinance Timeshare Loans

Almost 10 million households in the United States own some type of timeshare, whether it’s a deeded timeshare, fractional ownership, private club, or points system. Refinancing a timeshare could help lower your interest rate and/or repay the loan faster. 

You will likely need to refinance your timeshare loan with a personal loan. These types of loans can be used for almost any purpose. This article explains which lenders offer loans to refinance timeshares, the process, and the alternatives you may consider. 

Best refinance timeshare loans

A handful of online lenders make qualifying for a loan to refinance your timeshare incredibly easy. Most allow you to prequalify for a loan, which computes the amount, interest rate, and term you qualify for without a hard credit check. 

In other words, you can see what terms you’ll get without checking your credit. Additionally, you may like the fast funding times, flexible loan terms, and frictionless process to get you into a new loan. 

Here are a few of our top recommendations to consider. Because your credit score is the leading indicator for personal loan approval and terms, we categorized our choices by credit score level.

LenderRates (APR)Best for
LightStream7.49%25.49%Excellent credit
SoFi8.99% – 29.49%Good credit
Upgrade8.49%35.99%Fair credit
Credible7.49%35.99%Best marketplace

LightStream: Best for excellent credit

LendEDU rating: 4.8 out of 5

  • Offers some of the lowest interest rates in the market for borrowers with excellent credit
  • No origination, prepayment, or late fees, maximizing savings 
  • No option to prequalify with a soft credit check

LightStream stands out for borrowers with FICO credit scores at and above 740, offering competitive interest rates that can lower the cost of refinancing a timeshare loan. 

Its approach to lending is streamlined and customer-friendly. It features a simple online application process and no hidden fees, which means you can save money—not just on interest but also on the costs associated with loan management.

The absence of fees is a major highlight. When comparing loan costs, you can focus purely on the interest rate. We like LightStream’s Rate Beat program, which promises to beat any qualifying competitor’s rate, ensuring that borrowers get one of the best deals. 

Because it doesn’t allow prequalification, we think the best fit is borrowers with excellent credit who are confident they’ll be approved.

SoFi: Best for good credit

LendEDU rating: 5.0 out of 5

  • Various rate discounts available, including for autopay and banking with SoFi
  • Wide range of loan amounts and terms, making it easier to find a fit for various refinancing needs
  • No fees required

SoFi takes a holistic approach to lending that goes beyond refinancing timeshare loans. Known for catering to borrowers with FICO credit scores of 670 and better, SoFi distinguishes itself through its suite of member benefits to help members manage their finances more effectively. 

The flexibility in loan amounts and terms SoFi offers allows borrowers to tailor their refinancing to match their financial situation, making it easier to manage monthly payments or adjust the loan term to match their repayment goals. 

This level of customization, combined with competitive interest rates for borrowers with good credit, positions SoFi as a top choice for those looking to refinance their timeshare loans.

Upgrade: Best for fair credit

LendEDU rating: 4.9 out of 5

  • Broad eligibility
  • Mobile app and budgeting tools to help manage your loan and finances
  • Origination fee applies

Upgrade is a standout choice for borrowers with FICO credit scores in the 580 to 669 range looking to refinance their timeshare loans. Its inclusive eligibility criteria mean more people can access refinancing options, even if their credit isn’t perfect. 

This opens the door for timeshare owners who may have faced financial challenges to secure a loan with reasonable terms.

Upgrade’s suite of online tools, including a mobile app and budgeting resources, empowers borrowers to manage their loans and overall finances more effectively. For those with fair credit, Upgrade offers a combination of accessibility, convenience, and support that’s hard to match.

Credible: Best personal loan marketplace

LendEDU rating: 5.0 out of 5

  • Compares offers from multiple lenders
  • Does not charge users for comparing loan offers, ensuring transparency and cost-effectiveness
  • Get tailored loan options based on your credit profile without lowering your credit score

Credible is an exceptional resource for timeshare loan refinancing, particularly for borrowers looking to compare offers from multiple lenders without committing to a hard credit check. 

Its platform provides a seamless, user-friendly experience that allows borrowers to receive personalized refinancing offers, making finding a loan that matches their specific needs and credit profile easier. 

This tailored approach, combined with a no-fee policy for comparing loans, positions Credible as a transparent and effective way to navigate the refinancing landscape. The benefit of using Credible is its ability to simplify the decision-making process. 

By presenting a curated selection of loan offers, Credible allows borrowers to compare rates, terms, and fees, saving time and money. The platform’s user-centric design and support tools offer guidance and insight, making Credible not just a marketplace but a valuable ally in the refinancing process.

How to refinance your timeshare loan

To prepare to refinance your timeshare loan, you can expect the process to look something like the following:

  1. Check your credit: Five minutes. Qualifying for a personal loan is done with your qualifications, so you’ll want to ensure everything is in order before applying for a personal loan. Checking your credit can help you see what moves you need to make to improve your credit score.  
  2. Prequalify with a handful of lenders: One hour. Research lenders to prequalify with. Lenders often have eligibility requirements, such as age, Social Security number, address, income, credit score, and debt, baked right into their approval algorithms, so it’s easy to approve or deny prospective borrowers without a hard credit check. 
  3. Compare lenders and loan offers: One hour. Study the loan offers from different lenders and examine loan amounts, rates, terms, and fees. 
  4. Submit a full application: 15 minutes. After comparing options among different lenders, choose a loan that works for you. For some lenders, there won’t be much more you need to do to finish qualifying for the loan. However, you must upload documents to verify the information you provided.
  5. Get approved: One to three days. A decision on your application can occur almost instantly, especially if you were pre-approved for the loan. Depending on the lender and if they need to look at your application more closely, it could also take a few days. 
  6. Close on the loan: One to seven days. A personal loan isn’t complicated, and many lenders can get loan funds to you as soon as you’ve submitted all required documents (same day may be possible).
  7. Pay off your timeshare loan: One day. The funds for the new loan will most likely land in your bank account. You’ll contact your timeshare lender for a payoff amount and pay them with the funds in your bank account. Pay your original loan until it has been paid off with your new loan.
  8. Start paying on your new loan: 30 days. You’ll start making loan payments according to the schedule for your new loan. 

If you’re eligible and approved, the process will likely be completed fairly quickly, especially if you choose an online personal loan lender. It’s possible the entire process could take less than a day.

Alternatives to personal loans to refinance a timeshare loan 

Timeshare loans are unique. They don’t fit federal guidelines for a mortgage, even deeded timeshares. Personal loans are typically one of the best (and only) ways to go if you want to refinance a timeshare loan. 

Alternatives to personal loans to refinance a timeshare loan may include the following: 

Home equity loan

With a home equity loan, you can access the equity in your home by drawing money against it. It comes in a lump sum, so if you know exactly how much you need to pay off your existing timeshare loan, this could be the way to provide you with all the funds you need upfront. 

It has a fixed interest rate and regular installment payments, so you know your loan is getting paid off. 


A home equity line of credit (HELOC) is like a home equity loan, but you withdraw the money as needed instead of receiving a lump sum upfront.

The interest rate is variable with a HELOC, but you only pay for what you’ve used. It’s very flexible, so you can use it for other purposes when you’re finished refinancing your timeshare. 

Credit card

Credit cards come with high interest rates—usually higher than the initial timeshare loan. Still, it could be an interesting option if you’re approved for a 0% APR card and can pay it off in the allotted time.

Recap of the best refinance timeshare loans

LenderRates (APR)Best for
LightStream7.49%25.49%Excellent credit
SoFi8.99% – 29.49%Good credit
Upgrade8.49%35.99%Fair credit
Credible7.49%35.99%Best marketplace