Home refinancing It is the most popular method. which can be used to reduce the monthly installment payment amount and help pay off home debt faster But it comes with costs and fees.
Before refinancing your home Try using the expenses below to make a preliminary calculation. Compare the value for money first. Which costs are as follows?
- Fines: If you refinance before the contract is due (usually 3 years), there will be a fine of approximately 0-3% of the loan amount.
- Lending fees are normally 0-3% of the loan amount.
- Stamp duty is approximately 0.05% of the new loan amount.
- Mortgage fee 1% of the loan amount.
- Insurance costs include fire insurance. and the cost of home loan protection insurance or MRTA (the cost depends on the program the borrower chooses to purchase with the bank)
- Property appraisal fee is normally approximately 0.25-2% of the asset price.
- Other fees This depends on the policy of each bank.
Note: Various expenses It depends on the policy of each bank.
For home projects of G Plus Property, we are happy to give free loan advice.