Home refinancing

On-lending means that the borrowerTransfer loan from existing bank to another bank。There are usually several reasons：The interest rate of your bank is too high；The cost is too expensive；Poor service；Have difficulty applying for a loan from your existing bank when buying a new house or increasing your loan?。

After the refinancing application is approved，The new bank will allocate funds to the old bank to pay off the loan，There may be some bank and government fees involved.，But now many banks are willing to help borrowers pay the fees incurred。In the process of refinancing，if necessary，Loan amount can be increased，Adjust loan products，You can also adjust the loan term。

Advantages of refinancing

1. New banks can offer more favorable interest rates，The money saved in the long run is greater than the fees incurred when refinancing.。In terms of the lowest loan interest rate and the highest loan amount，Investors have more options。Loan interest rate is low，This means less money will be paid back to the bank.；High loan amount，It means that more funds will be taken out。This is what smart investors should consider。

2. Multi-party valuation，Choose the highest。The reason is very simple，Which bank has a higher valuation of the property means that investors can get more money.。At the same time, after withparing multiple aspects, investors，I also have a certain idea of ​​the price of my property in the market.。

3. Greater flexibility in repaying bank principal or interest。This is especially true for investors who only repay interest but not principal.，It's very good condition。It ensures that they can always hold funds in the bank for investment，and when accounting for inflation，Paying back less money to the bank in the future。

Disadvantages of refinancing

1. Refinancing may result in certain penalties。BecAtse if you sign a contract that requires you to stay with a certain bank for a certain period of time,，Leaving a bank early can result in a penalty。

2. Change bank and reapply for loan，Certain application fees or handling fees will be paid。

Overall，Take out the increased property value from the bank through refinance，More advantageous than top up。Of course it would be better than selling the property directly.。