Refinancing Your Mortgage
If your current home loan no longer fits your needs or has strayed off the course of your budget, refinancing could be the ideal solution. Our expert team at Investors Mortgage are dedicated to helping homeowners and investors like you to refinance existing mortgages to better terms with ease.
Why Refinance?
Refinancing allows modifying your mortgage to gain advantages like:
Lower interest rates and monthly payments.
Consolidating debts into your home loan.
Switching loan types to adjust cash flow.
Tapping equity for renovations or investments.
Removing mortgage insurance premiums.
Ending restrictions from past credit issues.
Refinancing works wonders when:
Your credit score has improved since obtaining your original mortgage.
Interest rates have dropped significantly since you locked your current rate.
Your financial situation has changed and your existing loan no longer suits your needs.
You require capital for major investments like a renovation or a new purchase.
Bank Look For These Things
Deposit
Minimum 5% + Lender’s Mortgage Insurance (LMI)
Income & Expenses
Income from all sources can be included, depending on the lender chosen. Expenses include living expenses, repayments, credit limits, etc.
Credit History
Previous credit history and credit applications.