Refinance & Debt consolidation loans
Expert in Home Loan Refinancing
IGR Mortgage Solutions involves replacing your existing home loan with a new one, providing the chance to leverage additional features and secure lower interest rates. Furthermore, it grants flexibility in adjusting your loan terms to better suit your needs, whether that involves extending the term or transitioning from a fixed rate to an adjustable rate.
What are the Reasons to Consider Mortgage Refinancing?
It’s often advisable to explore refinancing your home loan when your initial circumstances undergo changes. Some reasons that may prompt you to decide on refinancing your home loan include.
- 1. Obtaining a lower interest rate, which could facilitate paying off the loan sooner and result in savings on the total interest paid.
- 2. Incorporating additional features, such as an offset account, the ability to make extra repayments, or adjusting the repayment frequency.
- 3. Transitioning from a variable rate to a fixed rate or vice versa, particularly as you approach the conclusion of a fixed-rate term.
- 4. Consolidating debts.
- 5. Cash Back offers
- 6. Capitalizing on the equity in the home for renovations or investment in another property.
IGR Mortgage Solutions can secure you more favourable interest rates for your home refinance.
Securing better rates for refinancing your mortgage requires careful consideration and access to the right resources. Here is the process for refinancing your home loan.
If your monthly payments are straining your budget, it’s worthwhile to explore the straightforward choice of refinancing. Typically, lenders offer the most competitive refinance interest rates to attract new customers. We’ll assist you in negotiating this new rate with your current lender.
If your existing lender hasn’t lowered the interest rate, or even if they did but you’re still dissatisfied, it’s a signal to explore superior offers. Utilizing a comparison table enables you to evaluate multiple loan features simultaneously. It’s crucial to narrow down a selection of mortgage refinance rates and assess how they compare to one another.
Equity represents the gap between your property’s market value and the remaining balance on your home loan. Having a clear understanding of your equity empowers you to assess the refinancing options available for application.
After identifying a competitive rate and assessing your equity, you can commence the search for loans that align with your requirements. Evaluate crucial loan features like redraw facilities, introductory rates, portability, and loan terms to discover the most suitable option for your situation. Also, keep an eye out for cashback deals provided by lenders, as they can assist in covering associated costs.
After pinpointing the mortgage product that aligns with your needs, it’s time to initiate the application for the optimal refinance home loan. Once you have selected the most fitting refinancing option, we will support you in completing all the required documentation. IGR Mortgage Solution team will manage communication and negotiations with both your current and future lenders on your behalf.