Home Loan Refinance
12 Dec
Today's
Best Rate
Home Loan Rates From 5.69 % Variable
With A low 5.69 % Comparison
Doctors Loan Australia

Refinance your home loan & see how much you can save

A home loan refinance is essentially when you swap your current mortgage for a new one that can deliver a number of benefits. Right now, interest rates are on the rise. By partnering with Fox Finance Group, we can help secure a lower mortgage rate and ultimately, lower repayments.

This is the reason why many Australians are currently refinancing their home loans. On top of the reduced interest payments, there are also a number of cashback offers and deals which makes now the perfect time to consider refinancing your home loan.

There are five main steps to a refinance home loan with Fox Finance Group. We walk you through all the steps to make it simple and painless.

  • Speak to an experienced broker
  • Apply for a home loan refinance
  • Get Pre-Approved
  • Sign your contract
  • Transfer to your new loan

 

Our mortgage brokers are experts in the home loan industry and can help you understand your options to make an informed decision. We have access to a wide range of lenders and can help you find the best rates and terms for your specific financial situation, all whilst providing a personalised service and tailored lending solutions to help you achieve your refinancing goals.

By working with a Fox Finance Group Lending Specialist, you can save time and effort and ensure that you're getting the best deal possible. If you're interested in refinancing your mortgage, speak to our mortgage brokers today.

 

How Much Money Can  You Save by Refinancing?

How Much Money Can You Save by Refinancing?

The amount of money you’ll save with a home loan refinance depends entirely on the market conditions when you got the original loan and the current market conditions. It’s usually considered a good move to refinance your home loan if you think you can save between 1-2% on interest.

So, if you have a fixed-rate home loan and the interest rate is 5%. If the current interest rate is 3%, while it doesn’t seem like much of a change, over the life of a home loan, that can save you a lot of money.

Why Should You Switch Home Loans?

The main reason most people choose to switch home loans and refinance is because it can save them money on their interest rates. If you applied for a home loan when interest rates were high, reducing them with a home loan refinance might be the right option for you.

Speak to our mortgage brokers
How Much Does  Refinancing Cost?

How Much Does Refinancing Cost?

One of the best things about a home loan refinance is that we work around you to suit your preferences. You may be eligible to save thousands of dollars because of a reduced interest rate on your mortgage loan, and we will ensure that we manage any service fees in a structure that's affordable.

Even if you’re not eligible or we don’t think that the conditions are optimal right now for a home loan refinance, we’ll keep your information and contact you when we think you could save the most money.

Apply for a home loan refinance today with Fox Finance Group and learn how you can better your financial future!

Speak to our mortgage brokers

Home Finance Options

Home Loan Pre-Approval

Applying for home loan pre-approval can give you a good idea of how much you could afford to borrow, so you know your limits when searching for your dream home.

The first step of any home buying process is to receive a home loan pre-approval. We’ll walk you through the steps of getting you pre-approved. That way, you have an idea of how much money you’ll be able to spend on the home of your dreams. Not knowing how much you can afford is a scary situation to find yourself in. Making a commitment to purchase a home without knowing this ahead of time is never a smart decision. Let the team at Fox Finance Group walk you through this step-by-step. We’ll give you the freedom of choice and peace of mind that comes from knowing you can afford the homes you’re looking at, based on your debt-to-income ratio.

Apply for pre approval

Variable Rate Home Loan

Whether you’re buying your first home, next home, an investment property, renovating or refinancing, we can help you make your next move with confidence.

Variable rate home lending occurs when the interest rate on your home loans changes over time. These interest rates change as the market changes and, as a result, your home mortgage payments will change as well. As interest rates fall, so will your mortgage payment. As interest rates increase, so will your mortgage payment. The upside to these types of loans is that you generally get better perks when you apply, such as lower introductory rates for a specified period of time. The downside is the unpredictability of these loans and inability to forecast future rates.

Apply for a home loan

Fixed Rate Home Loan

Fixed rate home loans give you the certainty of knowing what your repayments will be during the fixed period.

Home loan interest rates that are fixed do not fluctuate with the market. You’re locked in at the interest rate you received when you were approved. This will result in your payments being the same over time unless you refinance. The positive side of this is that you know exactly what your monthly mortgage payment will be, so you can plan and budget for it accordingly. These loans are less flexible and will not fall during a market where interest rates are declining. People who have fixed rate loans will need to refinance if they want to get a lower interest rate later on during the loan period.

Apply for a home loan

Split Loan

Can’t decide between a variable or fixed home loan? You might consider splitting your home loan into part fixed, part variable rate so you can benefit from both certainty and flexibility.

A split loan is a hybrid of the two options. Part of your loan will be dedicated to a fixed interest rate and part of it will be a variable interest rate.

Apply for a loan

Interest Only Home Loans

Lower repayments during the interest-only period could help you save more or pay off other more expensive debts.

Interest Only Home Lending is when you pay only the interest for the first number of years during the loan. This will make your mortgage payments lower on the front end but higher on the back end of the loan. There are positives to these types of home loans if you’re trying to buy a second home that may become your permanent home. Paying only the interest will allow you to continue paying the first mortgage while contributing to the second one.

Apply for a home loan

Home Equity Loan

An equity loan lets you borrow against the equity in your home. You could unlock equity to fund a renovation, investment property or more.

A Home Equity Release is a loan that allows you to leverage the equity you have in your home to make improvements. Those changes may help you sell your home for more money someday. It can fund home renovations and you can even use it on a second property. Equity is the difference between the value of your home in the current market and the amount of money remaining on your loan. When you’re paying off a home loan, the equity grows. If your property is increasing in value, the equity you have in your home will increase as well. For example, if you purchased a home for $450,000 and deposited $100,000, you then have $100,000 worth of equity in that house. If the value of the home increases to $500,000, and you pay another $50,000 over time on the house, you then have $200,000 in equity. You can refinance up to 80% of the value of the property and subtract the amount you owe to figure out what you would be eligible for in a home equity loan.

Apply for an equity loan

Calculate Your Loan Repayments

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Borrowing Power Calculator

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Loan Repayment Calculator

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Compare Your Current Loan
Compare Your Current Loan

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Extra Repayment Calculator

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Home Loan Applicaiton Sunshine Coast

5 Simple Steps To Getting Your Home Loan Approved

  • 1. Enquire
    1. Enquire

    Enter some basic details about your home loan enquiry in our simple online form.

  • 2. Speak with an expert
    2. Speak with an expert

    Discuss your home loan preferences and application information with our friendly Home Lending Specialists.

  • 3. Get pre-approved for your home!
    3. Get pre-approved for your home!

    Your Home Lending Specialist will guide you through all details of your mortgage pre-approval.

  • 4. Sign your home loan contracts
    4. Sign your home loan contracts

    Once everything is verified, we’ll discuss your loan contracts together for you to then sign.

  • 5. Move in!
    5. Move in!

    Your loan funds will be processed by the lender when settlement is finalised. It's that simple!

5 Simple Steps To Getting Your Home Loan Approved

What Our Clients Say

Why Choose Fox Finance Group?

Questions about refinancing your home loan?

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