Are you thinking about refinancing your home loan? The mortgage brokers at Smartline Rockingham would like to provide you with the information you need to get started. Here is what we call “Refinancing for Beginners.”

Know What Your Current Loan Costs

Do you know what your rate is on your home loan? If you don’t, you have plenty of company. Only one homeowner out of three knows how much of their loan repayment goes to interest.

Know Your Fees and Terms

Different loans come with different fees. Many penalise you for paying off your loan early or making extra payments. Some go the other way and allow you to open an “offset account” that lowers your interest depending upon your balance.

Confirm and Compare Your Interest Rate

Since February 2012, home loans have dropped by 2.25%. If your loan is more than three years old, there is a good chance that you are overpaying. Call your lender and find out exactly what your interest rate is. Then, check with other lenders to find out what they are offering their customers. When banks and other lenders are competing with each other for business, it is easier to find a good deal. It pays to check your interest rates every couple of years.

Don’t be “Married” to Your Current Lender

At Smartline Rockingham, we offer more than 300 different home loans from 28 different vendors. In other words, if your lender is “average,” we have 28 times more selection than they do. You are more likely to get rates, terms and conditions that are more appropriate for your individual situation from us than you are from your current lender.

Call Smartline Rockingham Today

The best way to navigate through all of your options, keep it simple and end up with the home loan that is right for your situation is to call Smartline Rockingham today. This is what we do for a living. With some basic information from you, we know which lenders are more likely to provide the loan that is suitable for you.

Call us today: (08) 9527 1800.