Home loan financing tips

Interest only loans are popular with home owners purchasing a second property and investors buying investment properties.

Many Australians are refinancing their mortgages to pay them off faster and save thousands of dollars in interest. In fact the average lifetime of a loan is only four to five years. But a decision to refinance should not be taken lightly. The following are key issues to consider.

With interest only refinancing, you pay only the interest portion once you have refinanced your home or investment property

The costs of refinancing your mortgage can range from very little to thousands of dollars. How much you pay may depend on the loan products and your financial circumstances. A Your Local Finance broker can help you to navigate all the options available.

Refinancing your mortgage or home loan can be broken down into 6 simple steps.

Low interest rates have encouraged many people to invest in investment properties. Your current loan may have had very attractive conditions initially, but now your mortgage may be less financially favourable, due to rising interest rates.

Refinancing can be a great option for paying off your home faster and saving you thousands of dollars. However you need to know all the benefits and costs involved before making a decision.

It is often difficult for Borrowers to wade through varying benefits, conditions and costs of the huge range of refinancing options available from so many lenders.

Refinance your home equity loan

with a specialist mortgage broker:

• Northern Territory
• South Australia
• New South Wales
• Australian Capital Territory
• Victoria
• Queensland
• Western Australia
• Tasmania