SUITABLE HOME LOANS
Refinancing your Home Loan
Unlock benefits from Refinancing
Refinancing is a simple process that can save you thousands each year by reducing the cost of your mortgage repayments and give you access to equity for things you want to do. We know the home loan market and can look at Suitable Home Loans to replace your existing loan so you can unlock the benefits.
Home Loan Calculator
Our Mortgage Calculator and Home Loan Calculators can give you an estimate of how much can I borrow and what will my repayments be.
We're your trusted Advisor
You have our Mortgage Broker team behind you to support you through the Refinancing process and beyond. We're paid by the lender, not by you. We negotiate with lenders and look after your best interests.
Reasons to Refinance your current Home Loan
- Get a lower interest rate
- Take advantage of lender cashback offers of up to $5,000!
- Reduce the cost of your repayments
- Reduce the total interest cost over the life of your loan
- Use equity in your home to borrow money for an investment, to renovate, or lifestyle choices such as a new car or a holiday
- Debt consolidation into your mortgage including credit cards, car loans, or personal loans so you start saving money
Using Equity for an Investment property or lifestyle choice
- Equity is the difference between the value of your property and how much you owe on it
- Let's say your home is worth $500,000 and you still owe $150,000, your equity is $350,000
- Usable equity is usually 80% of the value of your home less the debt you still owe against it
- Usable equity is typically not 100% because if house prices fall the loan will be more than the value of your property!
- Let's say 80% of $500,000 = $400,000 minus your mortgage $150,000 = $250,000 usable equity
- Equity in your home could be an option for an investment property particularly to help with a deposit for the purchase