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:
- Have my circumstances recently changed?
- Have the interest rates changed?
- Is my fixed term ending soon?
- How much debt do I have?
- Do I need money for a big purchase?
- What are the goals for myself and my family?
- Could I benefit from better loan features?