There is a range of information available, both within Aussie's website and offline, which can help you if you're looking to refinance.
This includes tables that compare rates and products from different lenders and a range of calculators to help determine your borrowing power and repayment amounts, including Aussie's own Mortgage Calculator.
Some reasons that you may look to do this include: Before you decide that refinancing your home loan is the best way for you to consolidate your debts, you need to consider a number of costs that could arise during this process.
Depending on your situation, refinancing can attract a range of fees and other charges, including: You should factor in all of these costs when calculating whether refinancing works for you.
With a home equity line of credit such as the CIBC Home Power Plan, you'll enjoy additional benefits such as making interest payments only on the funds you use, not your total credit limit, and having ongoing access to funds up to your authorized credit limit.
The average credit card interest rate is around 15%.
When you are ready to apply, or even if you have more questions before taking the next step, you should speak to an accredited Mortgage Broker.
Aussie's expert Mortgage Brokers will help you evaluate your personal situation, compare the features of hundreds of loans from up to 19 different lenders, and even help with all of the paperwork and other parts of the refinancing process.
An option for you to consider is consolidating your debt by refinancing your home loan.
Consolidating debt by refinancing your home loan has multiple benefits, depending on your circumstances.
By consolidating all your debts under your mortgage you will only have to make a single repayment instead of making multiple repayments each month.