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Most of the borrowers looking to refinance are either unsatisfied with the service of their current lender or looking for a better rate or better featured loan. But while it might look like a good idea on a quick glance, refinancing has its cost and need to be considered carefully before moving forward.


Cost of Refinance

The cost of refinance is usually broken down into two parts. 

  1. cost of pay off your loan from existing lender, including discharge fee, break-up cost (if applicable), mortgage discharge fee (government charge) 

  2. cost of establish new loan from new lender, including loan establishment fee (if applicable), mortgage registration fee (government charge)


Sometimes, certian lenders will have special offer or campaign that gives refinance borrower rebate to cover their refinance cost.  This rebate is usually between $700 - $1250.  In most cases, these rebate can cover most if not all of your refinance cost.  If you would like to find out more detail about these refinance rebate offers, please contact us.


Purpose of Refinance


Before you decide to refinance your loan, you should ask yourself a question: what am I trying to achieve from this refinance?

  • to get a more competative interest rate on the market?

  • to have additional feature and flexibility of your loan which is not offered by current lender or product?

  • to access equity for investment or renovation?

  • to consolidate other debt like credit card or personal loan?


Once you have set your goal, we can search and find the right loan product based on your requirement.  

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