Five things to know before refinancing your mortgage in Geelong25 February 2020
Before you refinance your mortgage in Geelong, you need to do your homework.
At Konnect Financial Services, we’re experts in the field of refinance. We’ve helped many people get ahead financially through refinancing over the years. And because it’s vital for clients to fully understand refinance product details before committing, we’ve put together some basic points they can consider.
Here are five points to ponder before you refinance your mortgage in Geelong:
- Consider consolidating personal debt if you refinance. It can make good financial sense to consolidate credit cards, personal loans and car loans with your home mortgage. And it can save you thousands.
- Consider using a finance broker, such as us. Our experienced team will ensure you can access equity without being slugged with higher monthly fees.
- Closely examine the multiple options for restructuring your finances. We can help you find the best refinance mortgage solution to help you grow a healthier financial future.
- Work out how much equity you will need to access if you are renovating, investing or paying off debt.
- And get help calculating your debt-to-income ratio. This refers to the relationship between your debts – think mortgage repayments, car loans and credit card debt – and the income you bring in.
Perhaps you want to refinance so you can invest in assets such as an investment property. Or is your goal to consolidate debt? Do you want a better loan product or more competitive interest rates to achieve significant savings? Whatever your reasons, talking to a qualified mortgage broker is a great step forward.