Refinancing Home Loans in Australia

Refinancing your home loan gives you the advantages of improvements in your credit or drops in interest rates. Finding out if now is a good time to refinance is free.

A popular option when refinancing is what is called a "cash out refinance." This means that when you refinance you can make a small increase in your loan amount and get the money out as cash.

Another benefit of refinancing is to save on interest expenses by consolidating your other high interest debts into your new home loan.

Many people with 15 year loans decide to refinance to a longer loan term of 35 years or more to lower their monthly payments.

The advantage of consolidating your other debts into a home mortgage with refinancing is that your interest payments may not only be lower, they could also tax deductible. If you are on an adjustable rate mortgage, refinancing is also an opportunity to lock in cheaper rates on a fixed rate mortgage.

Refinancing Questions

The Home Loan Club representative who contacts you will likely ask you all of the following questions. There is a lot more than the amount of the interest rate deduction that must be looked at when deciding whether or not now is the right time for you to refinance.

Would you like to take cash out using the equity in your home?
How long do you plan to stay in the home?
Is the value of your home going up or down?
Do you have cash available for fees?

Perhaps the most important question is how long you plan to stay in your current home. If you are staying more than 3 years and can get an interest rate reduction of more than 1.5% it is likely in your best interest to refinance at today's rates.

We offer a simple form that will allow us to research a large number of lenders to provide refinance at the ideal interest rate, low fees and flexible to your needs.

The first step is use our free no obligation Loan Enquiry Form