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Have you been thinking about refinancing your mortgage but don’t know where to start?

Updated: Jan 17


Refinance Mortgage

Here’s our step-by-step guide to help you understand what’s involved in the process and why Healthcare Home Loans is the best choice for Healthcare professionals in Australia.


Refinancing is the process of switching your existing home loan to a different lender or changing loan products. Many Australians choose to refinance to take advantage of benefits such as lower interest rates, to reduce monthly payments, consolidate their debts, or to access equity in the value of their home. Refinancing can also supply you with extra cash in the bank!


So, what do you need to consider to decide if refinancing is right for you? And what’s involved in the process?


Understand why you’re refinancing Being clear on why you want to refinance and what you hope to achieve should be the first question you ask yourself. Knowing the answer to this will help Healthcare Home Loans recommend the best solution tailored to your unique situation as a medical professional.


Comparing home loans


Now that you have a clear picture of why you want to refinance, it’s time to compare home loans. Healthcare Home Loans specialises in providing mortgage broking services exclusively for nurses and other Healthcare professionals in Australia. We will discuss available loan options with you that meet your goals and will place you in a better financial setup. Once you’re happy with our proposal, we will ask you to provide required information and supporting documents to get the ball rolling on your application.


Apply for a new home loan


The refinancing application process works in much the same way as when you applied for your existing mortgage. Upon receipt of your supporting documents, Healthcare Home Loans will prepare and submit your application. We will also order a complimentary valuation to work out how much your home is currently worth.


Loan approval


Once the lender has these details, they will ask your permission to conduct a credit check to ensure your financial records match those you’ve provided. If your credit history is satisfactory, they will approve you for a loan. Once approved, your new lender will send you a new contract and mortgage documentation for signing.


Settlement


Congratulations, you’ve now refinanced your home loan! Healthcare Home Loans will arrange to pay out your existing loan with your initial lender. You will officially start making repayments to your new lender.


Why refinance with Healthcare Home Loans?


As a mortgage broking service exclusively for nurses and other Healthcare professionals in Australia, Healthcare Home Loans understands the unique financial situations and income structures that Healthcare professionals face. Our expert team has extensive knowledge of how Healthcare professionals can leverage their profession to their advantage with lenders.


We have access to all major lenders and private banks, and can help you select a loan that best suits your unique situation and financial goals. Working with Healthcare Home Loans can save you time and effort during the application process, and potentially a lot of money over the life of the loan.


So, what are you waiting for? Get in touch with our friendly team today to find out if refinancing with Healthcare Home Loans is right for you as a Healthcare professional.

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