This process should occur every 12 to 18 months and if done in the right way can save you thousands of dollars in interest.
Here is a recent example of a saving realised by one of our many satisfied customers. A customer had a home loan with an interest rate of 4.90% for $500,000 a low doc loan . The customer believed as they are self employed they could not qualify for any other home loan. A brief consultation with a What If We Finance Mortgage Broker allowed them to switch to a more competitive product resulting in interest savings of 2% or more than $10,000 per annum!
If your home loan begins with a 3% and you have sufficient equity in your home , normally this means your loan is less than 80% of your home value it is time to refinance.
The home loan health check is simple a process:
- Meet with your mortgage broker. This could be in person or virtually
- Answer a few questions around income, debts and goals
- We compare home loans after considering your needs
- We refinance or cannot contact your lender to negotiate a better rate
So what are you waiting for. Contact your What If We Finance Mortgage Broker today.