I don’t know about you, but I much prefer my hard-earned dollars being spent on myself, my family and close friends. The last thing I want to do is give it away to my lender unnecessarily.

Don’t get me wrong, I am happy to pay for the service I am receiving being my home loan, but I am not happy paying more than I should and neither should you.

Home loans are boring! I get that, I really do. But, if I could make yours leave more money in your pocket each month you could then use that money to do something fun! And that is how we can make home loans fun 🙂 . I actually tried to google home loans + fun and I learned that the buying is the fun part not the lending lol..

The lending world is competitive, and you may be surprised to learn that you’re paying more than you have to. A saving of .5% on a $400,000 could put $115 in your back pocket each month.

You can do so much with that $115. You could enjoy it, you could save it, you could invest it or you could keep paying it on your home loan and potentially pay your loan off 3 years earlier and save over $31,000 in interest.

Refinancing can also be good when you’re changing the structure of your lending. This could be from Owner Occupied to investment or from variable to fixed. It’s also a good time to look at the loan term. You may find that with the potential savings you can lock in a shorter term but still have the same repayments. Another great way to save you thousands of dollars in interest and pay off your loan sooner.

Refinancing is also good for when your needs have changed. You may have started your loan at a time in your life when you need a 100% offset account and a credit card all packaged up with an annual fee. Life may have simplified by now and all you really need is a basic loan with no bells and whistles.

You will find too that there are certain times when banks are offering special deals such as cash backs of up to $2,000 for anyone that refinances. Some banks will even occasionally offer their packaged loans with 100% offset for $0 annual fee for the life of the loan. This in itself can save you around $12,000 over the life of a loan.

Keep in mind that there are fees involved in refinancing your loan one from lender to another. These fees although no longer as high as they used to be, can add up and need to be taken into account before you decide to make the move to a new lender. These include exit fees from your current lender, establishment fees with the new lender and government fees that will vary from state to state.

Just how much could a refinance save you? Why not get in touch here and let me know how much your loan is and what your current rate is. I will then be able to get back to you with how much you could be saving.

If you would like to learn more Click Here for your Complimentary Home Loan Assessment.