Some reason why you should look at housing loan agreement and current interest rate paid to bank.
My flexi loan is locked at BLR-1.3% and current BLR is – 2.4%. majority of house buyers before 2008 will tend to gain at-least 25% increase in property value. What will be the benefit if one decide to refinance ?
- cash out the home equity for other investment or expenditures
- Reduce monthly repayment
- Instant saving on interest cost
- Readjust loan tenure
- Better cash flow
- Consolidation of loan
These are just my thoughts and not to be mistaken as professional advise.Please do your research before making any decision and as usual.
Freedom from debts keeps the mind free from worries, unless the mind is clear of what its doing