Asked 3w ago
Time to refinance?
It is a good time to refinance as rates are currently quite low. As I'm sure you're aware, refinancing at that lower rate should save you $130/mo and $1,500/year
However, without knowing every detail about your current loan and refinancing offers, I would point you to some other considerations:
o Check out ValueChampion’s page which features the best current refinancing rates https://www.valuechampion.sg/best-home-loan-refinancing-singapore
How long will your new rate be fixed? What is the rate structure following this period?
Refinancing fees can be significant, I suggest enquiring with your current bank/new bank
In general, refinancing can save homeowners a lot of money, but it can also be complicated depending on your circumstances. If you are interested, our home loan broker partner helps walk you through the nitty gritty. Click the “Check Rates” button on our page to get personalised assistance.