What is the process to refinance existing home loan?

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Tina Pham
Mortgage Specialist
Posts: 175
Joined: Thu Jul 22, 2010 9:41 am
Location: Sydney, Australia
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Re: What is the process to refinance existing home loan?

Post by Tina Pham »

Hi Nsingh,

The first step is to explore your options and find the best suited loan to your requirements at the lowest rates. This is what we do best so I would strongly recommend you contact us so we can do a comparison and find you the right lender from our 30-strong panel.

Second step is to find out how much it costs to get out of your current loan, if you are fixed then the exit fees may be high. The best way to work it out is to see whether the savings from the new loan outweighs the cost to refinance the loan.

Third step is to apply for the finance and get the approval. After that it's just matter of waiting for your documents, signing and returning them to the lender. The lender will contact your current bank and organize the payout of the loan so you don't need to be involved.

It does seem like a daunting process but we'll do all of the work for you - all you have to do is look at the recommendations and advise us who you want to proceed with. Please contact us for further information.
Tina Pham
Senior Mortgage Broker
Ph: 1300 889 743
The Home Loan Experts

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