ESTIMATE HOW MUCH YOU CAN SAVE BY REFINANCING

Refinancing is simply paying out your existing loan with money from a new bank or lender. Refinancing to a lower interest rate will lower your monthly mortgage repayments, so it’s an opportunity to save money on your regular repayment.

Using ABS data, we estimate that the average person could save up to $5,028 a year by switching to a lower rate loan:

  • The average Australian borrower refinances a loan amount of $487,355.
  • The average variable interest rate loan on the curent market is about 5.47%. The lowest variable rate is about 4.04%.*
  • Assuming a 30-year loan term, if you switched to that lower rate your monthly repayments would drop from $2,757 to $2,337. That’s a saving of about $419 every month, or more than $5,028 a year.

*These rates and averages are current as of 08 November 2022.

Of course, this is just an estimate and doesn’t take into account your personal circumstances or factors like interest rate rises and fees.

You can try this for yourself with estimate calculator below.

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YOU MAY NOT BE ABLE TO REFINANCE IF YOUR LVR IS ABOVE 80%










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Loan Value Ratio LVR. A ratio under 80% is great

You Loan Value Ration (LVR) is [item-2182_price] %.  A number under 80% represents reasonable leveling of financial gearing

CURRENT POSITION: Payments on a P&I  loan of [item-2194_price]/year over the remaining years with a total [item-2192_price] over the remaining years

REFINANCE POSITION: Payments on a P&I loan of[item-2188_price]/year  over the remaining years total [item-2191_price] over the remaining years.

Year one savings [item-2193_price] and  [item-2178_price]  savings over the remaining years years.


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About Us

Affluence Financials is a Finance Broking company run by passionate and enthusiastic, well experienced and skilled Brokers to educate thousands of people in Australia to guide them making an informed decision with utmost best interest of the people they serve with honesty and transparency.

Sridhar Tummalapalli, Owner and Director of the company have 10+ years of Experience in Finance industry working in Big 4 and started Affluence Financials in 2018 to help and support the community by constantly improving skills in finance sector, collaborating the bests, Gurus and Leaders in the industry, to give the best possible solutions, make many people make their financially stronger and become Affluent.

We at Affluence Financials believe in serving by providing solutions tailored to people’s personal and financial situations and helping them succeed in achieving their dreams.

Affluence Financials are also providing further incentives to benefit you. These include extraordinary discounts on international and domestic holidays or roof top solar energy systems to cut your cost of power

OPTION 1

Take the the rebate and a discounted holiday anywhere in the world. Ask your Broker for more info.

Couple relax on the beach enjoy beautiful sea on the tropical island. Summer beach vacation concept

OPTION 2

Put the rebate towards a solar system of your choice and save on your energy bill

OPTION 3

Take the rebate and spend it on anything you like. 

 

What we do

Mortgage Professionals

Investing in property is a real numbers game, and you always need to be thinking ahead of the curve. Therefore, it is essential to adequately plan out your finances and consider all variables before committing to a loan structure – for instance, would you prefer a variable or fixed rate? It’s questions like these that our team at Affluence Financials can advise you on. With many years of successful experience and a network of robust lenders to choose from, our team works with first-timers and veteran investors alike. We will look at your income and expenditures to offer tailor-made strategies and solutions for your requirements. Book a consultation with us today to learn more!

Financial Advisors

Financial advisors, like the team at Affluence Financials, help you create a plan for meeting your financial goals and guide your progress along the way. They can help you save more, invest wisely or reduce debt. Our team offers assistance with — or, in some cases, complete management of — your finances. We will ask you about your goals and create a plan to help you reach them. This might mean calculating how much you should save for retirement, making sure you have an adequate emergency fund, offering tax-planning suggestions or helping you refinance or pay off debt. We can also help invest your money, either by recommending specific investments or providing complete investment management. If you're struggling to manage your money, you might benefit from speaking to one of our financial advisors today. Simple answers to complex questions

Loans

Buying a new house and need a loan? Or perhaps you or your child would like to pursue higher education. No matter what you need the funds for, call Affluence Financials today! We know how to simplify what many consider a very complicated process! Our highly qualified and knowledgeable team will help you work out a loan that is right for you, as well as offer professional advice on the products available. Moreover, we have strong relationships with our lenders and have access to the best interest rates on the market! Call today for a chat.e.

Testimonials

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John Doe
Designer
Sridhar is one of the finest and most reliable Mortgage Brokers i have ever encountered. Over the past 7 years, Sridhar helped me find great rates for my home loans, and also plan financial futures for me and my family. He understands the current situation, advises the best way to pay the home loans faster, and makes the whole banking process easy and painless. He communicates effectively, has extensive experience in Finance and is very efficient and skillful in what he does. If you are looking for a mortgage broker or for any financial assistance, look no further... Sridhar (Affluence Financials) is the best in the business.
Kiran Kokkiri
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John Doe
Designer

Lenders we work with

www.affluencelenders.com.au

Phone: 056786543

email: info@affluencelenders.com.au