infographic home loans

How to Refinance your Home Loans Smartly Homeowners would benefit from switching their loans to a new loan with lower interest rates

1.

Lower your monthly installment payment

2. Debt Consolidation 3.

Combine a first and second mortgage Reduce the interest you pay over the life of the loan

Using the Existing Equity in the Home

4. Shorten the term of your home loan

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Switch from conventional housing loan with variable rate to a fixed rate loan or Islamic loan (or vice versa) Eliminate MRTA mortgage insurance

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Checklist to guide you on home loan refinancing - the outstanding balance or ringgit amount left on the mortgage; - the remaining number of years on the mortgage; - the interest rate on the loan.

- the terms or the number of years of the new loan; and - the interest rate on the new loan. ( the latest interest rate can be as low as BLR – 2.4% )

- processing fee or application fee; - credit check fee; - legal fees; - stamp duty; - disbursements fee; - valuation fees; and - redemption fees (if applicable)

- check http://www.imoney.my/home-loan to shortlist the suitable offer - Conventional home loan packages - Islamic Home Financing Packages