Mortgage and Refinancing Information Channel:
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Unlock your Home Loan Piggy Bank
With the recent sharp increase in property values your current home could be a pot of gold.
Property prices have increase about 20% - 30% over the past year but according to economists this current boom will not continue or much longer despite recent changes in property taxes announced in the budget speech.
Home Loan investments
You could get a health profit by selling your home at this time while the property market is hot, but remember you'll need to spend about the same for a home of similar size and in a similar location.
There is another way to access that pot of gold your house currently sits on. You can unlock the value of your property by staying right where you are.
You, as a property owner, can have your property revalued and apply for a further advance on your home loan of up to 100 percent of the new value of the property.
Advancements on your Home Loan
So for example, your home was initially valued at R250 000 and your home loan at the time was R250 000 and your property has since be revalued to be worth R500 000 - you will be entitled an extra R250 000 on your home loan.
It doesn't matter whether you want to use the equity in your home to make an investment or to splurge on consumer goods - banks generally lend subject to the normal credit criteria: whether you can afford the monthly repayments.
Click here for more SA Home Loan information
MORE RESOURCES updated Tue. June / 06 / 2023
Today's Mortgage, Refinance Rates: June 6, 2023 | 30-year Rates Increase 1.7% Since Last June - Business Insider
Today's Mortgage, Refinance Rates: June 6, 2023 | 30-year Rates Increase 1.7% Since Last June Business Insider
It May Cost More to Refinance a Mortgage Than You Think Yahoo Finance
The Great Pandemic Mortgage Refinance Boom - Liberty Street ... Liberty Street Economics -
Today's refinance rates decline - June 6, 2023 Bankrate.com
Compare Today’s Refinance Rates | U.S. U.S News & World Report Money
How to get a low-cost mortgage refinance Yahoo Finance
The Fed’s man-made housing market recession hit so hard that 4 real estate titans just lost their Fortune 500 status - Fortune
The Fed’s man-made housing market recession hit so hard that 4 real estate titans just lost their Fortune 500 status Fortune
What is mortgage refinancing and how does it work? Yahoo Finance
Interest-Only Loans Helped Commercial Property Boom. Now They ... The Wall Street Journal
No Regrets Getting An ARM Despite Higher Mortgage Rates Financial Samurai
Fixed rate cliff spurs record mortgage refinancing MacroBusiness
Refinancing your mortgage could save you thousands — here are some of the best refinance lenders - CNBC
Refinancing your mortgage could save you thousands — here are some of the best refinance lenders CNBC
How does mortgage refinancing work? CBS News
Here’s how sharply mortgage refinancing has dropped off Yahoo Finance
Today's Mortgage, Refinance Rates: May 29, 2023 | Rates Still High Business Insider
CFPB Launches Effort to Spur New Opportunities for Homeowners ... - Consumer Financial Protection Bureau
CFPB Launches Effort to Spur New Opportunities for Homeowners ... Consumer Financial Protection Bureau
Today’s 30-year mortgage refinance rates hit lowest levels in 15 days | Oct. 28, 2022 - Fox Business
Analysis | It Will Pay to Wait to Refinance Your UK Mortgage The Washington Post
Why Older People Can’t Get New Mortgages The New York Times
Should you refinance your mortgage to pay off debt? New York Post
VA refinance rates - current VA loan refinance rates today Business Insider
Small Business Loan Refinance Bankrate.com
11 Home Refinance Loans For Bad Credit (June 2023) BadCredit.org
Current 15-year refinance rates today Business Insider
Refinance Closing: An Overview Zing! Blog by Quicken Loans
What Credit Score Is Needed To Refinance a House | Chase Chase News & Stories
Compare Current 30-year Refinance Rates Business Insider
7 Refinancing Programs for Seniors Total Mortgage