I recently did a Personal Loan Refinance, when will the funds from the new loan be used/transferred to payoff the of the first loan? January 07, 2021 00:45 Updated Follow Once your Personal Loan Refinance gets approved and funds, the first loan should be paid off the next business day. Related articles I would like to refinance my SoFi Personal Loan. Am I eligible? How do I request a re-amortization of my personal loan? What do I do if I need to adjust the loan amount I borrowed on my personal loan? How do I withdraw cash from my SoFi Active Invest account? If I pay my loan off early, will I still be paying the full interest of the loan? / Will the automatic payments stop on their own? / Does loan payoff automatically stop autopay? / Is there anything I need to do after the loan is paid off?