Refinancing API

Manage loan refinancing operations.

Create Refinance Request

Create a new refinancing request for an existing loan.

Endpoint: POST /refinancing/requests

Authentication: JWT Bearer Token

Request Body:

{
  "loanId": "loan_123",
  "newTerm": 24,
  "newAmount": 6000.00,
  "reason": "Lower monthly payments"
}

Parameters:

Parameter	Type	Required	Description
loanId	string	Yes	Loan ID to refinance
newTerm	integer	No	New loan term in months
newAmount	decimal	No	New loan amount
reason	string	No	Reason for refinancing

Response:

{
  "success": true,
  "statusCode": 200,
  "data": {
    "refinanceRequestId": "refin_123",
    "loanId": "loan_123",
    "status": "Pending",
    "newTerm": 24,
    "newAmount": 6000.00,
    "estimatedSavings": 250.00,
    "createdAt": "2024-01-23T15:00:00Z"
  },
  "error": null
}

Error Responses:

• 400 - Loan not eligible for refinancing
• 401 - Unauthorized
• 404 - Loan not found

---

Get Refinance Requests

List refinancing requests for the user.

Endpoint: GET /refinancing/requests

Authentication: JWT Bearer Token

Query Parameters:

Parameter	Type	Description
status	string	Filter by status (Pending, Approved, Rejected)
page	number	Page number (default: 1)
limit	number	Items per page (default: 20)

Response:

{
  "success": true,
  "statusCode": 200,
  "data": [
    {
      "refinanceRequestId": "refin_123",
      "loanId": "loan_123",
      "status": "Approved",
      "newTerm": 24,
      "estimatedSavings": 250.00,
      "createdAt": "2024-01-23T15:00:00Z"
    }
  ],
  "error": null
}

Error Responses:

• 401 - Unauthorized

---

Get Refinance Request Details

Retrieve details of a specific refinancing request.

Endpoint: GET /refinancing/requests/:refinanceRequestId

Authentication: JWT Bearer Token

Path Parameters:

Parameter	Type	Description
refinanceRequestId	string	Refinance request ID

Response:

{
  "success": true,
  "statusCode": 200,
  "data": {
    "refinanceRequestId": "refin_123",
    "loanId": "loan_123",
    "originalLoan": {
      "amount": 5000.00,
      "term": 12,
      "monthlyPayment": 442.50,
      "rate": 8.5
    },
    "refinanceDetails": {
      "newAmount": 6000.00,
      "newTerm": 24,
      "newMonthlyPayment": 267.50,
      "newRate": 7.5,
      "estimatedSavings": 250.00
    },
    "status": "Approved",
    "approvalDate": "2024-01-24T10:00:00Z",
    "createdAt": "2024-01-23T15:00:00Z"
  },
  "error": null
}

Error Responses:

• 401 - Unauthorized
• 404 - Refinance request not found

---

Cancel Refinance Request

Cancel a pending refinancing request.

Endpoint: DELETE /refinancing/requests/:refinanceRequestId

Authentication: JWT Bearer Token

Path Parameters:

Parameter	Type	Description
refinanceRequestId	string	Refinance request ID

Response:

{
  "success": true,
  "statusCode": 200,
  "data": {
    "message": "Refinance request cancelled"
  },
  "error": null
}

Error Responses:

• 400 - Cannot cancel approved refinance request
• 401 - Unauthorized
• 404 - Refinance request not found