All Finance - Mortgage Refinance
Why refinance your mortgage?
Refinancing your mortgage can be a great way to improve cash flow and pay off your loans sooner.
To get the most from refinancing, you need to work with a mortgage broker or business loan broker who takes the time to fully understand your goals, objectives and current financial position, and who has the ability to structure a new arrangement that fully takes those factors into account. All Finance is that broker.
How much loan refinancing can save you
If your Credit Cards have taken a beating over the Holiday Season or you simply wish to wish to improve your monthly Cash flow, we can help by combining your existing debts into one manageable loan.
Current Debts
$ 200,000.00 Home Loan @ 8.07% = $1467.43 per month
$ 10,000.00 Credit Card limit @ 3%= $ 300.00 per month
$ 20,000.00 Car Loan = $ 350.00 per month
Total Monthly Repayments = $2117.43 per month
New Debt
By rolling above debts into one loan @ 6.74%
New repayments will be = $ 1481.92 per month
A reduction in your monthly outgoings of $ 635.51 per month
(Above example is for illustrative purposes only – Interest rates are subject to change)
Mortgage Refinance
There are many reasons why you may want to refinance your mortgage.
- Make improvements to your home, to extend or renovate.
- Consolidate your debts in order to make them more manageable.
- Change to a lower Interest rate.
- Change from a variable rate to a fixed rate interest rate, enabling you to have control of your monthly repayments.
- Change you current loan from a fixed to variable rate, enabling you to pay off your home loan faster.
Understanding your refinance objective is critical to obtaining just the right loan. Making certain that your goals are achievable before we even begin the process saves you time and money.