Thursday, July 12, 2012

Why do I need to refinance my mortgage (home loan)?

Refinancing property loan is just part of financial planning.

There are many reason why this 'action' is worth doing, amongst the common one are

  1. Lower the monthly installment
  2. Shorten the remaining tenure (e.g. from remaining 25 years to 20 years)
  3. Save interest (can be easily RM20,000 for every RM100,000 outstanding loan). 
  4. Credit Card Debt Consolidation (with the lowest interest in town)
There are cost associated with refinancing but in many case, the breakeven point is within 24 months... some case, can be within 6 months. Why not take a look for yours or someone you know?

Saving money feels good.

Click here to check how long it takes to breakeven and how much you can save in next 5 years.