Share First Refinancing Experience

1. We must check the contract with our original bank for how many years, most of the 3-year contract.

2. Once the contract check is completed, start to find a bank to refinance, or maybe contact the original bank to make a revision request (reduce the interest rate). It is recommended to start looking for the contract a month in advance. We try to contact the original bank and get interest 3.14, but MLR-

3. Once the refinancing is cut, the next step is to prepare the document. The document used also contains a copy of the ID card, a copy of the house registration, a 6-month backwards salary slip, a copy of the loan agreement, a copy of the latest salary receipt of every limit, a copy of the deed, a copy of the mortgage contract, a suite contract (if you have just changed the job, you have to wait through the pro to do refinancing with the bank, and may have additional documents such as the salary slip of the original office, a certificate through the pro, etc.).

4. After filing with the bank, the officer will contact us back for an appointment to check the room. Before the day of the examination, the officer will call to confirm the date of the visit (we are not sure if he will call to confirm all banks).

5. Once the room is checked, wait for the bank to contact you if the bank approves the loan.

6. When the bank approves the loan, we can choose the interest bank that we want. (Some banks may have just added expenses such as stamp duty, fire insurance, loan insurance, cashier check fees. Some banks will be free of these expenses. The interest may be more expensive than the banks that cost them. But let's try to calculate the 3-year period attached to the contract. If we pay according to the amount, which banks reduce more. Sometimes the interest is low, but we have the latent cost to pay. In good calculations, banks with higher interest but no underlying value may have to pay. Will reduce more, have to try the calculation)

7. Once we have selected the bank, we can contact the bank to sign the document. And do not forget to contact the original bank for redemption. For 15 working days, excluding holidays. (Recommended, when you choose the bank, hurry to contact the same bank. The original bank will get the closing balance for us. The sooner the day, the interest will not be much)

8. When the redemption day comes, we can travel to the land office. The bank will have an officer come to us on the redemption day. We can do the matter according to the step. We recommend preparing cash as well because we have to pay the hundred mortgage.

👉 I hope it's helpful for people to refinance their homes.

# Refinancing # Home refinancing