Home Loan

Home Loan is the loan given to acquire your own house instead of renting. There are multiple ways of obtaining such a loan like down-payment and installments. The time you spend at your home with your loved ones make your day even if you were trolled the entire day. Healthy Loans Australia realise that and try to brings the better packages for its customers with specific needs. We offer better interest rates than the current rates due to which our customers can get much easier loan terms with higher borrowing power. We provide home loan refinancing in which a client can exploit the interest rates as he/she has to pay lesser overall interest and mortgage repayment.

Home Loan Refinancing

A refinanced loan is the one where the major goal is to pay less interest over the life of the loan. Borrowers may tend to change the duration of the loan and the rates of interest during that period. Interest rates can be switched from fixed rates to adjustable ones and vice versa.

The common way adopted for refinancing is rate-and-term. In this type of refinancing, the original debt is paid off and a new loan is given on different terms with the same loan amount. It do seems a bit magical at times, as both the duration and the interest rate reduces.

Original Terms: $200,000 loan to be paid in 20 years at the rate of 6%.

New Terms: $200,000 loan to be paid in 30 years at the rate of 5%.

Another common type of refinancing your loan is the cash-out. This type of loan is given on an underlying asset. The underlying asset is the financial instrument like stocks, a commodity or a currency. In case of cash-out refinancing, if the value of your asset increases in papers or the market, you can claim that amount as a part of your loan. This results in increment of loan amount but the borrower do get immediate cash without selling his/her asset.

Original Terms: $200,000 loan to be paid in 20 years at the rate of 6%.

New Terms: $250,000 loan to be paid in 20 years at the rate of 5%.

Healthy Loans Australia offer refinancing of home loans in order to facilitate the customers. This feature allows an average person to plan his/her own house. As customer satisfaction and giving best solution to each and every of our customer is an essential part of our policy, we provide better interest rates than the market. We devise the installments keeping in mind the financial status of the borrowers and their families. There is another side to this refinancing thing. In case, you want to switch to a short term loan by making larger payments per month, refinancing is there for you. This is a very helpful feature for those people who have more years left of their loan than their job. You may not want to extend your home loan into your retirement. Hence, paying a steeper monthly installment is your option.

Every day is a journey and the journey itself is a HOME. (Matsuo Basho)