Refinancing
Refinancing a loan can potentially save you money by securing a lower interest rate, reducing monthly payments, or accessing additional funds for financial goals.
Rated 5 from 29 Reviews
Refinancing a loan can potentially save you money by securing a lower interest rate, reducing monthly payments, or accessing additional funds for financial goals.
Rated 5 from 29 Reviews
Mortgage refinancing is your gateway to a more manageable financial future. It involves replacing your existing mortgage with a new loan, either from your current lender or a new one. The primary objective of refinancing is to secure lower interest rates, reduce your monthly payments, modify loan terms, or access the equity in your home. The refinancing process can be intricate, but at Total Loans Mortgage Brokers in Port Hedland, we're here to provide invaluable support every step of the way.
Why Refinance Your Home Loan?
Refinancing your home loan can deliver numerous advantages:
Is Refinancing Right for You?
While refinancing offers numerous advantages, it's essential to understand potential drawbacks. Benefits include lower interest rates, improved loan terms, and access to cash. Disadvantages can encompass upfront fees, closing costs, potential credit score impact, and extended loan terms that might lead to higher overall interest payments. At Total Loans Mortgage Brokers in Port Hedland, we can help you evaluate the pros and cons of refinancing to determine if it aligns with your goals.
Common Misconceptions About Refinancing
Misconceptions often revolve around believing you must refinance with your current lender or assuming only individuals with impeccable credit can refinance. We can dispel these myths, provide clarity on the refinancing process and answer all your questions.
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Enlisting a Mortgage Broker makes finding the right loan product easier. We negotiate improved rates and terms, help you understand refinancing costs, and ensure you avoid potential pitfalls, all while helping you make informed decisions regarding your home loan.
Our team at Total Loans Mortgage Brokers in Port Hedland has years of experience helping Western Australian clients find the ideal refinancing solution tailored to their unique requirements. We work closely with you to:
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Troy S, Busselton
HK
Helen Kenny
Russell was excellent! Your knowledge and friendly service were greatly appreciated. The loan process was smooth and we were able to settle in plenty of time. Thanks Russell - highly recommended.
RG
Renae Gibson
Russell from Total Loans is extremely knowledgeable, offering up to date information on the best possible loan to suit our needs. Always available to answer any questions, offering valuable advice in a friendly and courteous manner. We have used Russell several times now and thoroughly recommend his service to our friends and family.
RC
Rebecca Conole
Russell has worked with us on a very fairly difficult loans and challenges with the banks as well. Russell offered different options and solutions to maximum our refinance options. He was clear, professional and courteous in all interactions and managed setbacks to the best of his abilities
As a Licensed Finance Brokerage, with our own Australian Credit License Number: 388425. We are required to always operate with a strict code of ethics and act with honesty and integrity, comply with all the laws and regulations relating to the Mortgage Industry and maintain confidentiality in all dealings. Total Loans has membership of several major industry and governing bodies to ensure that staff keep up to date with industry standards and changes. These include: Australian Finance Group, Australia's largest mortgage wholesaler (AFG) Mortgage and Finance Association of Australia (MFAA) Australian Financial Complaints Authority (AFCA)
Your borrowing capacity can vary with each Lender. All lenders have their individual serviceability calculators to assess how much you can borrow with them. At Total Loans we have access to most lenders calculators and can provide you with information on how much you can borrow with each lender. Some of the factors that lenders consider when assessing how much you can borrow include length of employment, deposit, guarantors, suitable security, previous repayment history, current debts ie personal loans, credit card/store cards.
Mortgage brokers are often able to offer better rates by negotiating with multiple lenders, while banks only present their own offers. We provide a detailed comparison report so that you can compare the features, rates and fees of the products of various lenders, without going to each bank directly, saving you time and money. We also have access to promotions through the broker network, such as discounted, application fees and interest rates.
There are lenders who are willing to consider applicants with defaults or poor credit conduct. However, this greatly depends on the details listed on your credit file and the extent of your credit score. Before recommending a lender, it is advisable we check your credit report.
A mortgage broker serves as a valuable intermediary between you, the borrower and the lenders. We have over 15 years in the finance industry and use our expertise and specialized software to secure competitive rates and facilitate a smooth mortgage settlement. At Total Loans, our mission is to safeguard your interests and expertly manage the entire mortgage process, so it is stress free and easy for you.
Not at all. Our service is free and transparent, with no hidden charges. When you receive a loan from us, it is the same as if you went directly to the lender. The lender pays us a commission, but it does not impact your home loan in any way.
Did you know that over 70% of loans in Australia are submitted through a Mortgage Broker? Navigating the countless mortgage products on the market can be confusing and overwhelming. A Mortgage Broker plays a pivotal role in guiding borrowers through the maze of options, explaining product features, and aiding in selecting the ideal loan for you. Beyond purchase assistance, at Total Loans we provide ongoing support, ensuring you always have access to the best financing options available.
All Lenders have different turnaround times. The Lender you choose will depend on your situation and the urgency of your loan requirements. We will determine the loan that is right for you during our strategy session.
Rylee Nominees Pty Ltd ABN: 35 737 082 292. Rylee Nominees Pty Ltd Holds Australian Credit Licence 388425.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Names & Locations of users have been changed to protect their privacy and are illustrative only.
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