The Benefits of Refinancing your Property Refinancing basically involves taking out a new loan which is used to pay off the prior mortgage. Below are some benefits to refinancing: 1) Save Money - To lower your existing interest rate. Refinancing allows you to pay off older mortgages with a high interest rate in exchange for a new mortgage with a lower interest rate. The savings can be quite substantial depending on your current rate as compared to the new rate. 2) Lowering Monthly Payments - If you secure a low interest rate, your monthly repayments will be correspondingly lowered. You can also lower your monthly payments by extending the loan tenure. 3) Reduce loan tenure - Reducing a loan tenure from 30-year to a 15-year for instance, can help pay off your loan quicker than originally planned. This inevitably allows you to be free of debt earlier than expected. 4) Consolidation of Loans - Refinancing can also be used to consolidate other high interest rate debts. If you have built up enough home equity, you can take the cash from refinancing; and with the extra cash, you can pay off high interest debts such as credit card balances. 5) Paying for other Expensive Items - A cash-out refinance allows you to put to good use some of the equity you’ve built up such as using the cash to pay for home improvements, or even to buy a second home. REFINANCE YOUR LOAN NOW BEFORE THE INTEREST RATE GOES UP AGAIN! All documentation submitting will be handled by me. I can refinance your properties anywhere in Malaysia. For further details, please WhatsApp, WeChat, Viber to Mr Bhaskar at 016-7734 140 for more info! Please add me as your friend in Facebook at https://facebook/bhaskar.thacha to receive the latest news on housing loan and refinancing.
Posted on: Sat, 23 Aug 2014 05:00:49 +0000
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