Learn what you’ll need to refinance your home loan
Refinancing your home loan is an important decision and should be done after you have carried out enough research.
The first thing to consider is what your goals for refinancing are – it could be to get a lower interest rate to reduce your monthly repayments, or to access equity to buy an investment property, renovate or perhaps put in a pool.
Whatever your situation, you’ll want to be certain that refinancing will achieve your desired outcomes, and that the benefits will outweigh any costs, before recommitting to another loan or lender.
Thankfully, your Aussie Broker can make the whole process a lot more straight forward. They’ll be able to help you with any questions you might have about refinancing. They can crunch the numbers on your various options and file any paperwork necessary to transfer your mortgage to a new lender or loan.
Once you’ve met with your Aussie Broker and you have a better idea of what’s possible in terms of refinancing, your broker will provide options from a choice of loans or lenders. Then, if and when you’re ready, they can help with your application and let you know what paperwork and documentation will be required for the loan you prefer.
When refinancing, lenders will be looking for many of the same things you had to provide when you applied for your existing home loan.
A lender will generally want to see:
There’s no need to wonder what you’ll need to refinance your home loan. Simply reach out to an Aussie Broker today and they’ll help you through the process every step of the way.