Real Estate Information

Equity in your Omaha home can be a valuable tool for building long-term wealth. By strategically tapping into your home's equity, you have various options to capture its value.

For instance, you can use it to pay off higher-interest debt or make home improvements that enhance your property's worth. Another option is to start a business or invest in the stock market, where potential returns may surpass the interest on your loan.

Another question people commonly have is whether or not they can use their home’s equity to purchase another property.

Can You Use a Home Equity Loan to Buy a House?

Yes, a home equity loan can be used to buy a house. However, it may not always be the best choice. A home equity loan is a second mortgage that allows you to tap into the equity you have in your home, which is the difference between what you owe and what your home is worth. It can be a viable option for purchasing a second home or an investment property, but there are important considerations to keep in mind.

The Upsides

When considering using your home's equity to purchase another property, it is important to determine whether you are buying a second home or an investment property. If your intention is to buy an investment property, utilizing a home equity loan can provide you with additional liquidity and potentially reduce costs.

• Investing in real estate with equity has the following advantages:
• You can increase your down payment. When you receive a home equity loan, the cash goes directly toward a down payment. Getting a lower interest rate and a lower monthly payment will allow you to be a more competitive buyer in the current market.
• Since down payment requirements for second homes can be higher, a home equity loan is a more affordable and convenient way to finance a second home.

Your current home is used as collateral for a home equity loan. You benefit from lower interest rates as a result.

Using your home equity to buy an investment property can help you build wealth. It's important to keep in mind that second homes don't generate income like investments. As a result, you'll be tying up your home in a loan, then taking on another loan, so you need to be financially stable.

The Downsides

The downsides of using equity to buy an investment property do exist. These include:

• Instead of having an asset, you will have a debt. You'll be converting the remainder of the home you own into a loan. This will mean you have a higher debt.
• If the market shifts, you will be more vulnerable, as you now own two properties. This doubles your risk. You could end up being upside down in your mortgage if your property values decrease.
• You could lose both properties if you default on your loan.
• Since most home equity loans are second mortgages, you could end up having three loans, as you have to combine it with another loan to purchase the home.
• Due to tax code changes in 2018, your interest payments will likely not be tax-deductible.

The conclusion is that using a home equity loan to buy a second home in Omaha can be a great option. You just need to weigh the pros with the cons and decide if the risk is worth it for your circumstances and goals.

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

Summer is the season for fun here in Omaha, no matter your age! These events and shows have something for everyone. Check out all the fun in store this week and through the next month in Omaha!

Towers of Tomorrow with LEGO® Bricks

Durham Museum
Through September 2, 2023
Sunday 12-4, Monday, Wednesday, Thursday and Friday 10am-4pm, Tuesday 10am-8pm

The exhibit features 20 astonishing skyscrapers from North America, Asia and Australia constructed in breathtaking architectural detail by Ryan McNaught, one of only 12 LEGO®-certified professionals in the world. Visitors will be inspired to create their own ‘towers of tomorrow’ with over 200,000 loose LEGO® bricks available in hands-on construction areas.

Jurassic Adventure

Lee G. Simmons Conservation Park and Wildlife Safari
Through October 1, 2023
09:00 AM to 5:00 PM

Designed by Dino Dan, Inc, a company founded by Don Lessem, a dinosaur adviser to Steven Spielberg for the film “Jurassic Park," the world’s largest and most life-like robotic dinosaurs roar, move, and even breathe at Wildlife Safari Park outside of Omaha. Drive by some, walk by others, and grab a dinoselfie with the beasts up to 60 feet long and 35 feet tall.

Late Nights at the Zoo

Omaha's Henry Doorly Zoo and Aquarium
Through August 24, 2023
7:00 PM to 10:30 PM

It's a different crowd when the sun goes down. Experience the Zoo's version of nightlife at one of the most interesting cocktail hours in town. Adults 21 and over can enjoy a relaxed evening of drinks, local food truck cuisine and wildlife.

Omaha Comedy Fest

Omaha Comedy Fest
August 3, 2023 - August 6, 2023

This year will be Omaha Comedy Fest’s most ambitious yet with plans to showcase over 70 acts from around the country. Multiple venues play host, including The Backline, Tiny House Bar, Slowdown, Benson Theatre, and Site-1 Brewing. See the website for details.

Jitterbugs' Night Out

Omaha Jitterbugs
8:00 PM to 12:00 AM

The Omaha Jitterbugs are calling all aspiring dancers. Enjoy a weekly dance lesson filled with swinging tunes. Hands-on dance instruction and live music and DJs make this a night you won't forget. Dress sharp and have fun!

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

When buying a home, a down payment is required by any bank or mortgage company. This down payment amount may vary depending on factors such as being a first responder or a first-time homebuyer.

Saving for a home down payment requires a detailed and actionable plan. It is recommended to consult with a mortgage broker or banker to understand available options and identify areas of improvement, such as reducing debt and improving credit score.

Here are some more tips to help you save effectively over the next five years:

1. Set a specific savings goal: To determine the amount needed for a down payment, it is important to break it down into monthly or yearly targets. This will provide a clear idea of the specific amount that needs to be saved each month.
2. Create a budget: Take a closer look at your income and expenses to find areas where you can cut back. Track your spending, prioritize essential expenses, and say goodbye to unnecessary or excessive costs.
3. Automate your savings: Take control of your savings goals with an automatic transfer from your checking account to a dedicated savings account. By setting up this simple system, you'll ensure that a portion of your income is saved before you have the chance to spend it. Don't let your hard-earned money slip through your fingers.
4. Reduce debt: Take control of your financial future by tackling high-interest debt head-on. Whether it's credit card balances or personal loans, paying off these debts will not only free up more of your hard-earned income for saving, but also improve your credit score. And a better credit score means a better chance of securing a favorable mortgage rate.
5. Increase your income: Whether it's taking on part-time gigs, diving into freelance projects, or starting your own side business, there are endless ways to earn extra money. And the best part? You can channel these additional earnings straight into your down payment savings, bringing you closer to your dream home with every dollar you make.
6. Cut back on expenses: Take a closer look at your monthly expenses and find opportunities to trim costs. Think about scaling back on discretionary spending for entertainment, dining out, subscriptions, or shopping. By doing so, you can free up more funds to contribute to your down payment fund.
7. Save windfalls and bonuses: When unexpected money comes your way - whether it's a tax refund, a bonus, or a generous gift - don't let it slip through your fingers. Instead, consider putting a significant portion of it into your down payment savings.
8. Housing assistance: There are a variety of local, state, and federal programs available to help you reach your goal of homeownership more quickly. Take advantage of these programs today and make your dream of owning a home a reality.
9. Invest strategically: If you have a longer time horizon, it's a great opportunity to explore low-risk investment options such as bonds or index funds. These options can help you grow your savings while minimizing potential risks.
10. Monitor your progress: Regularly monitoring your savings growth is essential to financial success. By assessing your progress, you can make any necessary adjustments to your strategy. Remember to celebrate milestones along the way to keep yourself motivated. Even if you've cut back on eating out, treat yourself and your spouse to a nice dinner to celebrate reaching a savings goal of $20,000.00. Discipline deserves reward!

Saving for a down payment requires time and discipline. It's not easy, but if you want it bad enough, you have to stick to your goals and plans with unwavering determination. The good news is that the payoff can be tremendous. By following these tips and staying committed, you'll be on track to achieve homeownership in no time. Start saving today and make your dream a reality!

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

Summer is in full swing in Omaha and so are the summer events that will keep you and your family entertained. Here are a few events coming up this week that are perfect for all ages.

Omaha Jazz Experience

Sat, Jul 22, 4 – 10 PM
Stinson Park
2285 S 67th St, Omaha, NE

If you love Jazz, then get ready for an amazing experience this weekend with an evening of smooth jazz with Grammy-winning saxophonist Najee at the Omaha Jazz Experience!

There's no better way to spend an evening out with your special someone or good friends in an intimate setting. Make sure to get your tickets now before they sell out!

Omaha Water Lantern Festival 2023

Sat, Jul 22, 6 – 10 PM
Gene Leahy Mall at The RiverFront
1001 Douglas St, Omaha, NE

The beauty and serenity of the Omaha Water Lantern Festival is sure to bring your family lasting memories this weekend. This is a peaceful event that will bring together people from all over the Omaha area and is a great way to make new friends.

Ribstock & Lager Fest

Sat, Jul 22, 4 – 11 PM
Venues at The Granary
5500 Granary Plaza Suite 101, Ralston, NE

What's better than BBQ ribs? When you add a Lager Fest! The second annual Lager Fest is being held along with the 10th annual Ribstock BBQ Festival at Venues at the Granary. Stay after to enjoy the BBQ Vendors and live music at Ribstock on the Green!

The Omaha Farmers Market

Sat, Jul 22, 8:00 AM – 12:30 PM 
The Old Market, Omaha, NE

It's the Omaha Farmers Market's 30th anniversary! Come every Saturday in the Old Market for an amazing selection of farm-fresh, local produce and other goodies. Open rain or shine from from 8am-12:30pm, till October 14. Follow “OmahaFarmers Market” on Facebook and Instagram for the whole scoop about this year’s season!

AMC Summer Movie Camp for Kids

Sat, Jul 22 – Wed, Jul 26
AMC CLASSIC Westroads 14
10000 California St, Omaha, NE

If you want to get out of the heat and keep the kids entertained for a low price, then look no further than AMC Summer Movie Camp, sponsored by the upcoming animated features, RUBY GILLMAN, TEENAGE KRAKEN and TROLLS BAND TOGETHER.

Beginning May 27th, AMC Theatres is inviting moviegoers to beat the heat with a series of family-friendly classics returning to the silver screen, with ticket prices as low as $3 on Wednesdays and $5 on Saturdays. See the movies you and your whole family can enjoy throughout the summer months.

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

Is the garage in your Omaha home starting to get out of control again? Or maybe it's always been a mess? Whether you plan to sell your home in Omaha soon, or you just need a bit more order in you life, organizing your garage can have many benefits.

Here are 5 easy steps to get the job done quickly and painlessly so you can enjoy your garage once again.

1. Plan of Attack

Don't enter alone. And use the buddy system, if for no other reason than you may get overwhelmed and lost in your own sea of debris. Friends, family, and the kids can all lend a hand to get the job done quicker and to help keep you on track. It's easy to get distracted rooting through the objects of your past.

The first goal of any garage organization is to create more floor space, so that's where you should begin as well. Get all the knick-knacks, the holiday decorations, and any other indoor-related storage out of there and into the attic. This area is for outdoor items only. Always keep this objective in mind: it will help you decide what stays and what goes.

2. Divide and Conquer

Give each helper a section to cover. This should help the garage organization run smoother. And don't be clingy. If you haven't used something in over a year, or if you forgot it even existed, it's time to say goodbye. Give your stuff to charities, thrift stores, or maybe even make a trip to the dump. Or, better yet, make a separate pile for a future garage sale, allowing you to reap all the awards of your excavation. (However, don't procrastinate on this chore either. It's easy to say you'll have a garage sale and not follow through so as to keep putting off the inevitable.) Then, divide up the remaining possessions into categories, such as sports items, seasonal décor, gardening tools, car maintenance, etc., to help with the next step.

3. Get Vertical

Once everything is cleaned and categorized, now it's time to rearrange. The best way to store your things is to make use of your vertical space.

• Get a pegboard for your tools.
• Put up some shelves for boxes.
• Heavy-duty hooks are great for shovels and rakes.
• Buy a magnetic strip for stray metal items, such as steel rulers or chisels.
• If you have bikes, skis, or ladders, put them overhead in the rafters (or if you have a drywall ceiling, once again, heavy-duty hooks are great for hanging these heavy-duty items).

4. Compartmentalize

Once you have as much as you can off the floor, it's now time to find additional storage. The easiest answer to this dilemma is a garage organizer.

• A multiple tier shelving unit is great for storing paint or varnishes.
• A cabinetry system for miscellaneous items is always handy.
• Maybe buy several Rubbermaid baskets to hang on the wall to help separate the recycling.
• Buy a crank to roll up that hose.
• Use garbage ties or bungee cords to keep your extension cords in line.
• Whatever the need, investing in some form of garage organizer helps to maintain the floor space you've just created.

5. Don't forget the little things

If you save glass baby-food jars, clear film canisters, or milk cartons (to be cut in half), you'll now be able to store smaller items, such as nails, screws, or tacks. If these small containers aren't see through, they can also be easily labeled with masking tape. Another alternative garage organizer is an inexpensive tackle box to help contain the confusion. But what if it's your bigger items that are getting in the way? What if it's the necessary tools, such as snow blowers, lawn mowers, or edgers creating the clutter? Then consider building an extra shed in the backyard or a lean-to against the outside of the garage in order to produce additional square footage.

Don’t Let It Happen Again

The main thing to keep in mind is never let it get to this point again. If you take these steps, you should be able to keep up with your garage organization in the future. This is not to say that you won't have some occasional maintenance, as in some sweeping, scrubbing, or washing. But by simply taking the time to arrange the space, at least you'll no longer dread entering into it.

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

When selling a home, some small inconveniences can occur, but being prepared for them & working closely with your real estate agent, can limit the irritation. While we do our best to help the process go smoothly, there will inevitably be things that may be annoying. The fact remains that you'll be dealing with different buyer types when selling, and personality types do vary. 

It's good to know what to expect from buyers in advance to keep focused on the goal and not let the inconveniences and annoyances delay the process. Here are a few of the things to expect.

Last Minute Showings

Not everyone is organized with their time, and will sometimes request last-minute showings as they fit their schedules.  

While we do our best to get buyers to schedule at least a few days in advance, last-minute showing requests can & do come up. While this may seem like a major inconvenience to you, remember that this could be the buyer making an incredible offer on your home. A missed showing is a missed opportunity, so try to be open to any showings, even if it means juggling your schedules.  

Buyer Not Arriving for Showings

You work hard to accommodate showing times by coordinating schedules and ensuring your home is in tip-top shape and ready to make an incredible impression, only to find out the buyers will not be coming. Yes, this can be frustrating. However, things can come up on the buyer's end that were inevitable and caused the cancelation. Don't automatically assume it is an inconsiderate buyer.  Instead, work with your agent & buyers agent to reschedule at a better time for both of you. The situation can still be turned around to be profitable for both of you. 

Lights left on or doors unlocked

Sometimes a buyer's agent will leave the lights on or a door unlocked when showing your home. While this is very rare, especially a door unlocked as secure lockboxes are normally used, it could happen.

As real estate agents, showing instructions are included for buyers agents that convey exactly what is to be done during a showing, including the smallest of details. If those details are not followed, simply talk with your real estate agent and the situation will be remedied immediately.

Selling your home may come with some annoyances or inconveniences, but if you keep your eyes on your ultimate goal, and work hand in hand with your real estate team, the process flows much smoother. Communication is key, and your TEAM is always by your side. 

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

Get ready to celebrate our nation's birthday in Omaha! Check out all of these fun events planned for the week up to the 4th!

City of Omaha Celebrates America Presenting Melissa Etheridge with Fireworks 

June 30

The free Memorial Park concert returns with music beginning at 6pm and the fireworks starting at 10pm sharp.

Ralston’s 63rd Annual Independence Day Celebration with Fireworks 

July 4 (1 pm)

Parade: 1 p.m. start – from 84th & Highland St. through downtown Ralston to 72nd & Main St.

Omaha Storm Chasers Baseball Game with Independence Day Fireworks 

July 3 (7:05 game start time), Tickets required

Enjoy the fireworks display following the game.

Symphony and Fireworks Show 

July 4 (8 pm), FREE

The Riverfront, 900 Farnam Street, Suite 100 Omaha, NE 68102

Music Director Ankush Kumar Bahl will lead the Omaha Symphony in a Salute to Our Military concert. Enjoy the fireworks display following the concert.

Independence Day Free Community Event 

July 2 (12 – 3 pm), FREE

Historic General Dodge House, 605 S. 3rd St., Council Bluffs, IA.

Please join us for our Annual Free Community Celebration! Come enjoy an afternoon of live old-time music, free tours, free food and drink, and much more!

4th of July Pool Party 

July 4 (pool open – 5 pm), $1

Celebrate the 4th of July at select City of Omaha pools. Admission is only $1 per person. Pools will close at 5 p.m. Only available at pools with open hours for that day. See list of pools here.

Have a Safe and Happy Independance Day!

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

Are you looking for an inexpensive way to add some spice to your kitchen? Adding a backsplash is a practical way to add aesthetic value to your kitchen. And if you plan to sell your home in Omaha, a good looking backsplash will be one more thing about your kitchen to attract home buyers.

Usually, most people use porcelain or ceramic as materials for backsplashes. Those are durable and beautiful materials, but they aren't the only ones you can use. If you want to give your kitchen a new look, consider these options.

Tiles

Tiles can be made of ceramic, glass, or natural stone. Tile is popular because it's tough and does a great job of protecting the wall. It's also easy to keep clean.

You should consider the style of your kitchen when selecting tile. White ceramic tile can look great in both modern and retro-inspired kitchens. Natural stone in marble can give your kitchen a luxurious feel. Glass can add a bright and funky feel.

Glass

Speaking of glass, you could use a large sheet of tempered glass, instead of using glass tile. This works great for adding protected lighting above your stove. It also allows you to use any wallpaper or paint you want behind the glass. Using a sheet of glass can add modern flare to any kitchen.

Chalkboard Paint

Painting your backsplash with chalkboard paint is an easy and affordable DIY project. It can also be quite handy, as you can write messages, menu ideas, or anything helpful in the kitchen.

When you're ready for a clean slate, all you have to do is wipe it clean. The only down side is that the black paint may close your kitchen in and make it feel smaller.

Mirror

For smaller kitchen, a mirror as a backsplash can give the illusion of more open space. It will also bounce more light around your kitchen. The more light, the more inviting the space.

The surface of the mirror will be easy to clean, though it will end up taking more effort to keep clean as any little bit of grease or dirt will show.

Wallpaper

We only mention wallpaper because it may not be the best idea for a backsplash. It may be a fast and easy option, but it won't offer much protection and can peel from the moisture.

Stainless Steel

Lining your backsplash with stainless steel will give it a modern feel and tie all of your stainless steel appliances together. It's ideal because it's durable, easy to clean, and resistant to high temperatures.

Just be careful with acidic foods. The acid will ruin the finish if not immediately cleaned.

Consider one of these backsplash materials for your kitchen. Think about the amount of cooking you do and the level of durability and protection you need. Some materials such as chalkboard paint or wallpaper you can apply yourself. Others, such as tile, marble, and stainless steel are best left to the professionals.

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

Summer is here, so how do you plan to keep your kids entertained and learning new things? Why not try out a summer camp in the Omaha area? There aren't the camps we had as kids. These modern camps offer all sorts of activities and adventures to keep your young ones learning while they have the time of their lives. Here's a sampling of some of the camps available in Omaha.

Wildlife Encounters Summer Camp

17114 S 63rd St
Papillion, Nebraska 68113

Kangaroos, Parrots & Lizards oh my! Meet real animal ambassadors while learning about wildlife conservation, zookeeping, animal careers & animal care! Miles of hiking trails, swimming pool with lifeguards, nature center & more!

Summer Explorations

2810 N 118th St
Omaha, Nebraska 68164

Fun, one-week courses at "The Forward-Thinking High School" designed to spark curiosity and build skills for current and/or upcoming 6th, 7th, and 8th-grade students. We have seven exciting, four-day courses to choose from: Outdoor Education, Geology & Archaeology, Entrepreneurship, Crime Scene Forensics & Psychology, Film Making, Graphic Design/Marketing, and Robotics.

Rock 'n' Palooza & Happy Feet

Rock 'n' Palooza runs Mon - Fri in June & July at Countryside Village and Benson Theatre. Happy Feet runs Saturdays in June & July at Countryside Village.

Explore the music of great rock bands! Explore acting through improvisation and scene work! Get messy and create outside the box through drawing and painting! These camps explore it all!

Bloom Summer Dance Camps and Classes

Northwest Omaha (Blondo), Southwest Omaha (Oakview) & Elkhorn

Are you looking for an activity for your child that is positive, safe, and encourages development? Sign up at Bloom for summer dance camps or weekly classes!

• Ages 2 - Adults
• Ballet, Tap, Jazz, Hip Hop, Acro, Contemporary, Musical Theater + more!

Fontenelle Forest Summer Camps

1111 Bellevue Blvd. N.
Bellevue NE 68005

Experience a wild summer outdoors at Fontenelle Forest, just minutes from downtown Omaha. Campers ages 3 to 15 will explore the outdoors through positive and fun nature-based activities designed to teach your child to love nature. With a variety of camp themes and activities, there is something for everyone! Register early to save your child's spot!

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!

Refinancing your Omaha home loan can seem like a great idea, with the promise of lower interest rates and reduced monthly payments. However, it's important to be aware of the hidden costs that can come with refinancing. 

By being aware of these potential costs and doing your research, you can make an informed decision about whether refinancing is the right choice for you.

Loan Application and Establishment Fees

When refinancing a home loan, lenders typically charge application and establishment fees. These fees can cover various expenses such as loan processing, property valuation, legal documentation, and loan setup. 

While some lenders may offer fee waivers or discounts, it's important to consider the loan terms and repayment structure to determine if the benefits outweigh the upfront costs.

Exit Fees and Break Costs

When refinancing your home loan before the end of the fixed-rate period or during a specific period stated in your original loan agreement, you may have to pay exit fees or break costs. These fees are meant to compensate the lender for the loss of interest income due to early repayment or refinancing.

To avoid any surprises, it's important to carefully examine your existing loan terms and consult with your current lender to understand any potential exit fees or break costs associated with refinancing. Even though refinancing may still be financially beneficial despite these costs, it's crucial to factor them into your decision-making process.

Lender's Mortgage Insurance 

Lender's Mortgage Insurance (LMI) is a form of insurance that lenders may require when the loan-to-value ratio (LVR) exceeds a certain threshold, typically 80%. LMI protects the lender in the event of default by the borrower.

When refinancing, if the new loan results in a higher LVR than your current loan, you may be required to pay LMI. It's important to consider this additional cost and factor it into your refinancing calculations. However, it's worth noting that LMI is a one-time payment and may still be financially viable depending on the overall cost savings achieved through refinancing.

Loan Term and Repayment Structure

Refinancing your home loan can be a good way to evaluate your loan term and repayment structure. It can help reduce monthly payments, but it's crucial to consider the long-term impact. Extending the loan term can lead to paying more interest over the life of the loan, despite having a lower interest rate.

Evaluate the trade-off between immediate cost savings and the potential increase in overall interest paid. If your primary goal is to pay off your mortgage sooner, refinancing to a shorter loan term may be more beneficial despite potentially higher monthly payments.

Property Valuation and Legal Fees

Refinancing often requires a property valuation to determine the current market value of your home. This is done by a professional valuer and comes with costs. Legal fees, including conveyancing and mortgage registration fees, may also be involved in the refinancing process.

It's important to factor in these costs when evaluating the financial feasibility of refinancing. While they may not be substantial compared to other expenses, they contribute to the overall cost of refinancing and should be considered as part of the decision-making process.

Ongoing Fees and Charges

When taking out a new loan, it's important to not only consider the upfront fees but also the ongoing fees and charges. These may include monthly account keeping fees, annual service fees, and redraw fees, among others. It's crucial to understand the full scope of the fees and charges associated with the loan to make an informed decision.

While these fees may seem relatively small individually, they can add up over the life of the loan. Carefully review the fee structure of potential lenders and compare them against your current loan to ensure that the overall cost of the new loan aligns with your financial goals and expectations.

Interest Rate Changes and Timing

When contemplating refinancing, it's crucial to assess the timing and potential fluctuations in interest rates. While opting for a lower interest rate could lead to savings, it's necessary to take into account the likelihood of interest rates increasing in the future.

To make an informed decision about the best time to refinance, it's advisable to research the market and seek guidance from financial experts on interest rate trends and forecasts.

Make the Right Refinancing Decisions 

Refinancing one's home loan can provide financial advantages, but it's important to take into account the potential hidden costs that may affect the decision-making process. These costs include application and establishment fees, exit fees and break costs, LMI, ongoing fees, and potential interest rate changes. By considering these factors, one can make a more informed decision and ensure that refinancing is in line with their financial objectives.

Before diving into the refinancing process, carefully evaluate the overall costs and benefits, seek professional advice from an independent mortgage broker, and compare loan offers from different lenders. 

By conducting thorough research and weighing the potential hidden costs, you can navigate the refinancing journey with confidence, ensuring that it is a financially prudent decision that supports your long-term financial well-being.

Have your home needs changed in the past year? Perhaps you’ve outgrown your present home, or need to downsize to a more suitable home. If you’re ready to make a move, let’s connect and talk about all the amazing opportunities that are available to you!