Refinancing loan: can you extend the duration?

You took out a mortgage loan with a bank a few years ago. Meanwhile, interest rates have fallen to a historic low. You could be a lot cheaper with a refinancing of your mortgage loan. Interesting, and you can also extend the duration of your new loan, so that you have to pay less every month. But that doesn’t always tell your banker. You can read below how you can ensure this.

The low interest rates ensure that you can borrow cheaply. If your Frans Prinker loan has been running for several years, chances are that your interest rate is higher than what you could get today. The bank where you took out the loan will not tell you this. That is why you better consult an independent credit broker. He or she will look at your loan (how much can you borrow) and then look for an advantageous refinancing for you. That is a new loan that replaces your current one.


Refinancing mortgage credit: a lower monthly payment

Refinancing mortgage credit: a lower monthly payment

Your life evolves. Your financial situation today is not the same as a few years ago. Maybe you currently have more fixed costs than before and therefore do you want the lowest possible monthly payment for your loan?

Refinancing can help you with this. Not only can your credit broker provide a more interesting interest rate. You can also extend the duration of your new mortgage loan . This reduces your monthly burden and gives you a little more financial margin .

But there may also be other reasons why you want to refinance or revise your mortgage loan. Discover them all.


Example refinancing mortgage credit

Example refinancing mortgage credit

You took out a mortgage loan with a bank for $ 150,000 eight years ago. The loan runs for 25 years. The interest rates are now considerably lower than eight years ago and you come to Auxilina. Your Auxilina specialist will arrange refinancing and a cheaper interest rate for you. To keep the monthly burden as low as possible, you close the new loan (which replaces the old one) for a term of 25 years. You pay slightly more interest over the full term, but your monthly repayment is a lot lower. And that’s what counts today, right?


Get help from a specialist

refinancing loan

Not all banks offer this or want to do this for you. An independent credit intermediary, such as Auxilina, cooperates with various credit providers. We will look for the best solution for you. Make an appointment right away and let our credit specialists help you further!

Leave a Reply

Your email address will not be published. Required fields are marked *