Refinancing | Mortgage Broker Arndell Park, Blacktown and Pemulwuy
What are the benefits of refinancing?
It's more than likely that you have heard of the term 'refinancing' however you may be wondering if it's worth doing and what are the benefits. Well, when it comes to refinancing, there are a number of reasons why home owners choose to refinance their home loan, including wanting to:
- Save money
- Pay off the mortgage sooner
- Access equity to fund other investments
- Debt consolidation
- Access to better loan features
If you want a better deal and achieve some huge savings contact Arif Iqbal, your mortgage broker from Mortgage Choice Blacktown! Arif will help you navigate through the best deals to help you secure a lower interest rate.
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How does refinancing work?
To put it simply, ‘refinancing’ means taking out a new home loan with a different lender to replace your current loan. By sticking with your existing home loan you could be paying a costly home loan loyalty tax, so it's important to review your home loan annually.
Remember, home loans should never be a set and forget!
Switching to a new loan can be a way to access home equity, providing low-cost funds to buy a new car, renovate your home, or invest in a rental property.
Refinancing can also help if you’re juggling multiple debts. Folding a variety of different debts into a single home loan means making just one repayment each month and, as your home loan is likely to have the lowest interest rate of all your debts, consolidating your debts this way can lower your total monthly repayments.
If you would like to discuss your current financial situation, please don't hesitate to contact our team. Right now, a home loan health check could provide huge benefits.
Find out more information!
If you're chasing a bit more information, then feel free to check out some of our free resources below. Of course, if you have any questions, just get in contact with Arif Iqbal.
If you would like to explore refinancing, then please reach out to Arif Iqbal this week on 0400 954 020.
We can also help you with:
- Mortgage Brokers Blacktown
- Mortgage Brokers Pemulwuy
- First Home Buyers
- Mortgage Brokers Doonside
- Mortgage Brokers Arndell Park
