Refinance Your Home Loan

Are You Eligible for Home Loan Refinancing?

Your eligibility for refinancing depends on factors like credit score, income, property type, and loan-to-value ratio. Even if traditional refinancing isn’t an option, alternative solutions may be available through our lending partners.

The refinancing process typically includes a credit assessment, property appraisal, and underwriting. On average, it takes about 15 to 30 business days.

At Arya Finance, we prioritize top-tier customer service. Our team will guide you through the process, address your concerns, and help secure the best refinancing option for you.

Understanding Home Loan Refinancing

Refinancing means replacing your existing home loan with a new one, potentially offering a lower interest rate, reduced monthly payments, or access to your home’s equity. Common reasons to refinance include:

With rising interest rates, many homeowners are turning to refinancing for better loan terms. Even the Reserve Bank of Australia’s Governor, Dr. Philip Lowe, has encouraged Australians to explore refinancing for potential savings.

Is Refinancing Your Home Loan a Good Idea?

In most cases, refinancing is a beneficial decision. However, a mortgage broker should assess your financial situation to determine if it's the right choice for you.

Consider refinancing when your current loan no longer meets your needs, or when your interest rate is higher than what’s available in the market. A home loan review with a broker is the best way to start.

Although refinancing can be done anytime, you should evaluate the costs involved, especially if you're on a fixed-rate mortgage. Break costs may apply, so discussing your financial goals before making a decision is crucial.

While there’s no limit to how often you can refinance, most borrowers choose to do so every 3 to 5 years when better options become available.