Good lender Refinancing. Of course this one program can help those of you who have a mortgage problem that needs to be solved in a timely manner, but with more mitigating installments. However, after knowing about Good Lender Refinancing, of course you also need to know clearly how to determine the right time to take part in the Good Lender Refinancing program. In short, “When do I have to start having a mortgage loan?” For more detailed information, let’s look at the points below.
Before talking further about when to join a mortgage refinancing, it’s good if we repeat a little about what mortgage refinancing is.
What Is a Refinancing Mortgage?
Refinancing is a step to use a new loan to pay off old debts, only this new loan has provisions that are more mitigating than the old debt, for example lower interest rates. Usually by doing refinancing, interest can be lower and monthly installments can be lower. Moreover, you can also get cash on certain types.
Especially for Good lender Refinancing, this program is specifically for those of you who find it difficult to complete a mortgage that is already running. With this program, you can “move” the remaining mortgage payments to the old bank to a new financial institution / bank. This means that the new bank will immediately pay off the installments at the old bank, and you can only repay the remaining installments in a new place with lower interest.
Advantages of Good lender Refinancing:
- Mortgage installments are lower
- Can save more
- Can allocate excess money to other expenses which are also priorities
- Can get fresh funds that can be used for other needs
3 Signs Must Join Good lender Refinancing
The first sign that must be recognized to start participating in Good lender Refinancing is when mortgage payments start to feel burdensome. It’s no secret that mortgage rates are indeed high, which is around 8-13%, but if you are lucky and get a promotion program it can indeed be around 6%. But still, with a pretty high mortgage rate, it will certainly weigh more on your financial flow every month.
Let’s just say, your current mortgage repayments are around IDR 15,000,000, with an interest of only 8%, which means that the total payment every month is around IDR 16,200,000, – an additional money of around one million rupees can certainly have a big impact on financial flows. If you begin to feel mortgage payments paid every month are heavy, then it is good to consider mortgage refinancing.
Monthly Expenditure Flow Starts Difficult to Breathe
If the end of the month arrives and the moment to arrange monthly expenses has come back, this means it’s time to see again whether the mortgage payments that are still ongoing can continue to run without disrupting finance. The financial flow can be even more difficult when a lot of expenses have to be made at the same time, in the long term.
For example, suddenly there is a family member who needs large funds for medical expenses, a business that was built suddenly was hit by a big problem and requires huge costs, as well as other events. Such conditions will certainly make the flow of your monthly expenses more difficult to breathe. Not to mention, the obligation to pay mortgage payments which usually have a large nominal, must also be paid regularly.