7 Mistakes Investors Make with Refinancing
Thought you might be interested in an article 7 Mistakes Investors Make with Refinancing and thought I’d share a few points with you here. I’ve found some relevant information here so if I find more, I’ll be sure to pass it on.
When done properly, refinancing can be very lucrative, because:
- If you switch to a cheaper interest rate, you’ll be able to pay off your loan faster or buy your next property sooner
- If you revalue your property and find it has gone up in value, you’ll be able to pull out more equity for your next purchase
That’s why it makes sense to investigate refinancing every five years or so. That said, refinancing can cost you even more money if you get it wrong.
7 most common mistakes people make when they switch home loans – and how to avoid them.
1. Switching to a longer loan term
If you’ve knocked, say, four years off what was originally a 30-year mortgage and then move to a new 30-year loan, you could actually lose money even with a cheaper rate.
What do you think? Maybe you’d like to read on? Check out the full version here…then give me a call to discuss how this might impact your own business:(0408) 393 777. Alternatively, email me at [email protected].
Thanks,
Stewart