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Patrick M.
Patrick M.
Leonay, NSW

Home Loan $523,000
Rate – 4.17%
My income – 97k plus super
My wife’s income – 102k plus super
Credit card limit $3k
2 kids 9 and 7
No other loans or debts and we have been in the same job for over 3 years

What is the best rate we could get by refinancing?

last year


Hi Patrick,
With general information only, it may be possible to get a loan that would save you a significant amount. It would be subject to the LVR, the property type and location, your living expenses and your credit history among other qualifications.
The sharpest rates are in the 3.50% region for a no frills, non-bank lender that may or may not suit your overall short and long term needs.
Happy to answer any questions that you may have


Hi Scott - thanks for the information. The house would be valued around 775k. Non bank lender, which one and how safe are they at the moment?

Hi Patrick,
A lender like TicToc or MortgageEzy. I really don’t know what they are like. An obvious difference is that you have to maintain your other bank accounts and transfer in or out which will take time.

Hi Patrick,

Excellent time to be looking at the market because there are still some great deals available.
The best available I see, and by that I mean best value is 3.66% variable principal and interest with an offset account
no annual fee
no application fee.
no monthly fee
Your be hard pressed to be able to beat that on the value perspective.

It is important to understand that we only have very limited information to establish if you would qualify and you would need a full assessment of your situation to identify if you are eligible for that.
Check the market - definitely

Also - be very clear around what you want with this cheap rate.

Is it
- having the lowest rate on a loan that is going to go for 30 years
- is it to have product design plus the cheapest rate so you can own your home sooner
- is it something else

Get a better deal by all means. Make sure you have an accurate measure of wether it will do what you want it to do
Kind regards

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