Refinancing Your Home Loan
Professional Help to Transform Your Mortgage for a Brighter Future
AUSTRALIAN MORTGAGE BROKERS
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Revisit Your Home Finances
As life evolves, so do your financial needs. Whether you’ve changed jobs, welcomed a new family member, or simply want a better rate, refinancing your home loan can be a smart move. It could be cash out for a car or holiday, kids leaving home, or perhaps an outdated kitchen that needs a refresh.
Whatever the reason, a shift in circumstances is a perfect time to reassess your mortgage. While the idea of refinancing may seem daunting, considering fees and the choice between fixed and variable rates, the right refinanced loan could help you pay off your mortgage faster and more affordably, consolidate debt, or enhance your home’s value.
Reasons to Refinance
We help our clients refinance to find home loan solutions to match their changing needs. Get access to loans that support your vision.
Interest Rates
Grab a better deal! Shop around for a lower interest rate & save $$$ over time.
Improve Cash Flow
Refinance to lower your monthly repayments & free up some cash flow.
Access Equity
Turn your home's value into cash for renos, investments or debt consolidation
Consolidate Debt
Swap high-interest debts for a lower rate & simplify your finances.
Swap Loan Type
Fixed to variable or vice versa? Refinance to match your risk tolerance.
Switch Lenders
Unhappy with your service? Refinancing can get you a better deal elsewhere
Refinancing Tips
Refinancing your home loan can be a great way to cut your interest rate and save thousands over the term of your loan, but it’s important to have your wits about you to avoid any surprises. Here’s a breakdown of some key things to consider, but rest assured your Ezi Homeloans Broker will make sure your refinance is a winner.
Lenders offer many different rates, products and deals. The rate you get depends on the product you choose, how much you borrow, the length of your loan, your home’s value (Loan-to-Value Ratio or LVR), and your credit history – just to name a few.
There can be fees involved in refinancing, like application fees, valuation costs, exit fees from your current lender, and legal fees. Your Ezi Homeloans broker will ensure the money you save by refinancing outweighs all these costs.
Think about what features you want in your new loan. Do you want the flexibility to make extra repayments? Would an offset account help you save even more? Consider if you might need to switch between fixed and variable interest rates in the future. Pick a loan with features that match your financial goals.
Refinancing can be a chance to adjust your loan term. Stretching it out lowers your monthly repayments, but you’ll end up paying more interest overall. Shortening the term increases your repayments but helps you pay off the loan faster. Choose a term that suits your budget and goals.
The LVR is your home loan balance compared to your property’s current value. Your LVR could affect your ability to refinance, or you might need to pay Lenders Mortgage Insurance (LMI). Your Ezi Homeloans broker can arrange a property valuation on your behalf to confirm you’re in a suitable position to refinance, with no unnecessary costs payable.
Some loans, especially fixed-rate loans, might have penalties if you pay them off early. Factor these break costs into your calculations to make sure refinancing makes financial sense.
Refinancing involves a new credit check. Lenders will look at your income, expenses, credit history, and job situation to see if you qualify for the loan. Make sure your finances are in good shape before applying.
Considering talking to our team. They can guide you through the refinancing process, help you figure out the potential benefits, and make sure you’re making the best decision for your situation.
Partner with Ezi Homeloans
Navigating the complex world of home loans doesn’t have to be stressful or time-consuming. With the right advice, it can be straightforward and beneficial. At Ezi Homeloans, we are dedicated to providing Australians with tailored finance options to help make their dreams a reality.
If you’re considering your financial future, now is the perfect time to consult with a professional. Whether you’re seeking mortgage solutions or need expert guidance, the team at Ezi Homeloans is here to turn your financial goals into reality, offering personalised support every step of the way.
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