Examine the state of your current loan
Property ObserverDecember 7, 2020
Undertake an analysis of the features and extras you are currently using, or not using, with your current mortgage. Also ensure you go through your paperwork and clearly understand all the costs and fees associated. Consider the amount of equity you may also have available by comparing the current value of your property against the current amount owing on your mortgage.
TIP: You can pay for a valuation report, but for a quick gauge on how much your property may be worth, have a look at recent comparable sales in the area.
This article is from Property Observer's free ebook Mastering the Art of Refinancing: 12 tips for success and key things to consider.