Jul 22 (edited) in Wins
$1,000 Win - ASK your bank for a Better Rate
As a Mortgage Broker, my team and I would love to help you refinance and get a better rate.
That said - you can always ASK your Bank for a better rate.
I went into my bank to setup a New Business Bank account and they said "can we review your home loan". I said "Well we got a discount maybe a year ago", but we looked - and they gave an extra 0.16% on all loans.
Doesn't sound like much but on $750,000 0.16% is $1,200 and on $1m it is $1,600.
Or per $100k it is $160.
This is PER YEAR. I could probably chose to lower my repayment, but I'm going to keep it AS IS - meaning that the EXTRA (which I'm not missing) will not be applied to PRINCIPAL - so it will cumulatively help me pay down my home loan quicker.
So its not just $1,000 a year x 20 years left on your home loan = $20,000.
It could be a lot more (maybe even $35k or $45k).
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$1,000 Win - ASK your bank for a Better Rate
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