What is the repayment term for refinancing? September 19, 2024 06:55 Updated Details of repayment term for MPOWER refinancing Fixed repayment term: You'll have a set repayment period of 10 years. No prepayment penalty: Pay off your loan early without any extra charges. Related articles Are there any fees to refinance my loan? How can I lower my payments on my refinanced loan? Is there a minimum and maximum loan balance that I can refinance? Will my interest rate increase for my refinanced loan? When does my loan application expire?