There can be some fantastic benefits in refinancing your home loan - just make sure you also weigh up the different expenses outlined below that can be involved in the transfer to make sure it’s the right choice for you.
Quick answers: what's involved in refinancing a home loan?
Replacing your current home loan with a new one
Receiving additional or better features
Exit fees and borrowing costs to consider
Offering savings on interest
Refinancing refers to the process of paying out your current home loan by taking out a new loan, either with your existing lender or through a different lender.
Here Joel Gibson, Money-saving expert & author of Kill Bills!, explains the process of refinancing and explains how refinancing can help save you on your home loan.
Review your home loan to make sure you're getting the best deal today!
Why refinancing a home loan can be a sensible step
Depending on your circumstances, not all of these will apply. It’s worth having a chat with a Mortgage Choice broker to explore the costs involved with your individual situation, and balance these with any potential cost savings of switching home loans.
Understand the costs to refinance
Get answers to all your refinancing questions in 60 seconds with our Mortgage Minutes!!
When is the right time to refinance your home loan? With Joel Gibson
Is refinancing worth the fuss? With Joel Gibson
When should I refinance?
Is refinancing worth the effort?
You might also be interested in:
What is home equity?
If you own your home chances are you've built up some equity. You can borrow against equity to buy an investment property, renovate or achieve other goals.
Is it time to refinance checklist
Download our checklist to understand if it's time for you to review your home loan.
Spend 5 minutes answering questions about your financial situation and we'll give you a break down of how much you could save if you refinance.
Use our free home loan quote to review your situation today.