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poor credit home loan |
You can still get a home loan on poor credit? You can utilise a lower interest rate with another lending institution saving you thousands of dollars and years off your loan. Interest rates are not the only reason you may choose to change your mortgage, there are a host of features that may not be available through your current lender. These may include 100% offset account, line of credit, a good redraw facility, no monthly fees and an ability to split the loan.
To decide what combination of rate and points is best for you, balance the
amount you can pay up front with the amount you can pay monthly. The less
time that you keep the loan, the more expensive points become. If you plan
to stay in your house for a long time, then it may be worthwhile to pay
additional points to obtain a lower interest rate. |
