Refinancing can save you money even if its with the same lender 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.
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 have broad Expertise
Unique to Suitable Loans we have hands on residential building and construction industry experience. We understand the practical details of using Equity to achieve your goals.
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 better interest rate or access to features such as flexible payments, offset, and redraw facilities
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
Information provided on this website is general in nature and does not take into account the readers goals, objectives, or circumstances. You should consider whether the information is appropriate for you as it does not constitute advice.