If you are thinking about a home loan refinance, you need to sit down, relax, have a coffee, get out a piece of paper, and work out what benefits there will be for you if you do refinance your home.
Perhaps you need or want to consolidate debts and bills into one loan, your home loan, or maybe you want to get some much needed equity out by way of cash for other investments?
Maybe you wish to go on a once in a lifetime cruise around the world, or simply just want to have some funds available to help your own children with their education or first home purchase.
Whatever the reason, now is a pretty good time to refinance, as interest rates are at an all-time low, so if you can consolidate some immediate debts and/or bills into your home loan, and with current rates at around 4 -5%p.a, if your current debt interest rate is much higher, it just may be worth to refinance.
You may even be able to refinance with your current lender, into a different home loan package with a better or cheaper interest rate, or lower fees, or with an offset account, or some other credit benefit.
It can be daunting to search and find the best home loan refinance for your particular personal circumstance, it can even be difficult at times even as a finance and mortgage broker to sieve through the 100's of lender home loans on offer, and forever changing rates, fees and terms.
Be sure to seek some advice from your local mortgage or home loan broker, as they have access to many home loan lenders and can compare home loans for you and give you some great ideas on where you may be best to refinance your home loan.