Mortgage refinancing is the process of taking out a new mortgage to pay off an existing loan. This is frequently done because your financial status has changed or because you just want a better deal on your home loan.
Mortgage brokers often work closely with lenders, so they may have access to more knowledge, deals and rates the average home buyer doesn’t. Mortgage brokers also often have strong negotiating power and may help you get a better rate on your home loan.
Talk to a Broker
Agree on a Solution
Lower your repayments
Enjoy your new Home Loan
Refinancing means paying off your existing loan with a new one. The refinanced loan may have a shorter loan term or may require smaller payments.
If you’re having trouble paying off your current loan, then yes, it is. By refinancing your loan you can potentially reduce your interest rate and even extend your payment term.
Some of the advantages of refinancing a home loan include;