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Loan refinancing
JGM Lending & Finance mortgage brokers are here to help you make the right choice for you.
Would you upgrade your car after ten years? The answer was yes right? A home loan that was right for you then, may not be right for you now. Over a period of time, your circumstances may have changed. You might have a new job, have started a family or really need a better rate on your home loan. Whatever the circumstance let JGM Lending & Finance work for you.
Our Cairns mortgage brokers can assist you to assess your home finances and the costs that need to be considered with loan refinancing. Let us help you find the right refinanced loan that for your situation. You may be able to consolidate your debt, renovate and pay your loan off quicker!
Thinking of loan refinancing? Here are some FAQs
Is it possible to refinance so that my loan repayments are less?
It’s a great idea to compare what type of loan you have and your interest rate with other offers available in the market. JGM Lending & Finance are able to go through the different options that may be available to you.
Can I consolidate my other loans or debts?
By consolidating your personal debt such as loans or credit cards into a home loan, the interest rate will be significantly lower. If you continue to pay these debts at the same amount as the current repayments you will save on interest. It’s important to understand that by consolidating these debts that if you pay the new repayments required within the home loan, that you will end up paying more over a longer time period. Our Cairns loan refinancing specialists can explain this in detail and help you make sure that this is the right solution for your situation.
How much can I borrow?
Each person is in a different situation and the amount that you can borrow depends on your income and reason for securing a loan. Check out our JGM Lending & Finance Loan comparison Calculator for an estimation (subject to the applicant satisfying legal and lender requirements). Contact our loan refinancing team today to get assistance based on your current circumstances.
How do I choose the right loan?
There are so many home loans on offer it can be confusing. Check out our looking to refinance guide. Want to know more? Contact our JGM Lending & Finance team, we are waiting to assist you with any questions.
Do I pay weekly, fortnightly or monthly repayments?
If you pay weekly instead of monthly, you will be making more repayments within a year, this will save you time and money on your loan. Home loan repayments can be set up to fit in with your pay frequency and most lenders offer flexible repayment options.
Are there fees involved in changing loans?
When looking to refinance, our Cairns loan refinancing specialists will talk you through the fees and/or costs that may be involved in changing home loans. You may have to pay penalty fees or an early discharge cost however these costs may be mitigated by the repayment savings of the new home loan.
Need a home loan?
Whatever your circumstances, we will look for a loan that’s right for you, not the lender. Send through a quick enquiry and we will be in touch.