Refinancing allows you to lower your monthly payments, consolidate your debts, and access your home’s equity. In short, it offers you access to the equity you have accumulated in your home over the years without even realizing it.
And that’s where we come in!
What is Refinancing?
To simply put it, refinancing refers to changing your existing home loan to a better option and improve your financial situation along with it. The main reason for considering to refinance your home is when there are better home loan opportunities in front of you. Changes in your personal circumstances can also influence your decision. Refinancing is always a good option if you feel that the terms of your previous loan are now not in your favor!
Three Reasons for Refinancing Your Home Loan
- The interest rate or fees you are paying are no longer competitive
- You have escalating debt from several different sources such as credit card debt, which you want to consolidate to save interest
- You want to purchase an investment property
The Advantages of Refinancing Your Home Loan
- Refinancing your home allows you to unlock the equity of your current home so you can put the money towards buying another investment property or meet another financial commitment.
- You receive a flexible and improved payment option that meets your present situation.
- You obtain a lower interest rate on your home loan, allowing you to save more money on interest payments
- You receive greater control over your financial situation, as it allows you to manage your debt more effectively.
Your CHG Mortgage Broker will perform a Cost Benefit Analysis
When you engage our Finance Team they will perform a cost benefit analysis on the loan you have selected to ensure it saves you money. Our home loan brokers will assist you to find an improved interest rate and even work towards adjusting your mortgage to suit your current and future investment plans better.
They will work to ensure you benefit from refinancing your home. Through their analysis, they will determine if the option you have selected offers you the maximum benefits over the related costs of continuing to pay off your current loan.
Contact us today so we can guide you to making the best decision for your current circumstances. If you thought refinancing was tough, talk to us and we will make it easy for you!
Make a Finance Enquiry
Unsure of what loan is right for you? Wanting to find out how much you can borrow?
Our Finance Team is available to discuss your home loan options today.
Want to know more or to apply? Contact us today!