Refinancing With A Mortgage Broker

Our goal is to help you refinance your home loan as smoothly and efficiently as possible, so we’ll take the time to explain the entire process.

Calculators Apply Now

Refinancing With A Mortgage Broker

At My LMI Group, we want to make refinancing your home loan as stress-free and straightforward as possible. Here’s how a My LMI Group broker can help you through the process.

A free consultation with a My LMI Group broker

If you want to finance a new home, you’ll need to meet with a mortgage broker. Your first meeting — at your local store, your place, or anywhere else that suits you — will usually take about an hour.

In this meeting, My LMI Group will first get to know you and understand your property goals. We’ll take the time to explain how much you may be able to borrow and what your repayments might be.

Understanding Borrowing Capacity

To determine your borrowing capacity, you must first calculate how much money you can repay each month.

Lenders will consider several factors in determining how much you can borrow, including:

Your annual income
Your repayment history — specifically your track record of paying off past financial commitments, including your current home loan
Personal finance commitments may include debt such as personal loans, credit and store cards, car repayments and hire purchase agreements.
Your living costs include household bills, council rates, strata fees, transport and petrol, school fees and entertainment
After you have deducted all of your expenses from your take-home pay, you will be looking for a figure that can cover both your repayments and leave you with some discretionary income.

Your My LMI Group broker can find a loan that fits your circumstances and your personal situation from the information you provide.

You can use our online calculators to estimate how much you may be able to borrow and what your monthly repayments might be.