Refinancing home loan(s) are defined as applying a second loan to pay off another. Refinancing your Malaysia home loan could help you structure your debts, lower monthly payment and shorter debt periods.

Bear in mind that refinancing your home loan does not only mean mortgage interest tax deduction. It also could mean the reducing the length of lock period, penalties for early repayments, interest payment only from the start, shorter pay off term and consolidating your debts. Usually, refinancing only happens when your house in on a mortgage. But there are more to just refinancing Malaysia home loans than just mortgages.

You might be also required to purchase PMI (Private Mortgage Insurance) if your down-payment on a home in less than 20% of the appraised/appreciated value. Refinancing can help you cancel off PMI as mortgages has already been paid, now that you’ve taken the second loan.

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2 Comments to Malaysia Home Loan Refinancing

  1. kenneth

    Hi will like to know issit possible to do a re-finance for my home loan.
    I taking ocbc home load with 200k loan straing from april 2008


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