Deciding When To Refinance

Refinancing your home loan can be something you do because you want to find a better deal, or because your personal situation is changing and you need to alter your finances.

Refinancing can help by improving your interest rate, finding a superior home loan product, or as a tool to access equity or consolidate debt.

If you’re not sure if now is the right time to refinance, ask yourself these questions:

1. Have my circumstances recently changed?
2. Have the interest rates changed?
3. Is my fixed term ending soon?
4. How much debt do I have?
5. Do I need money for a big purchase?
6. What are the goals for myself and my family?
7. Could I benefit from better loan features?