How Much Will Refinancing My Mortgage Cost?
When it comes to refinancing your mortgage, there are a number of things to consider - but if you’re like most homeowners, your first thought will likely be the costs associated with making the switch.
It is important to think about the overall savings associated with mortgage refinancing - both now and in the future.
For example, many home loans contain features that you don’t use or need - and paying for these over the long-term can really add up.
Conversely, there might be other features that you don’t currently have that you might be able to make good use of.
It’s also important to consider that your home loan requirements are likely to change over time. What made sense financially for you when you agreed your mortgage may no longer make sense now - you might have been promoted at work, started a family or decided to make additional investments since you first set up your home loan.
This is why it is important to meet regularly with your mortgage broker - once every year is a wise idea - to make sure your mortgage is still the best product to meet your needs. If not, it may be time to refinance!
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.