Whether you've renovated, been paying off your home loan for some time or simply had your land or property value increase, you may have built up equity. Equity is the difference between your current property value and your remaining debt.
If your home has a loan-to-value ratio (LVR) of less than 70% you may be eligible for a reduced variable rate. LVR is determined by dividing the loan amount by the value of the property, expressed as a percentage. For example, if you purchased your home at a cost of $500,000 but it is now valued at $750,000, your LVR is 66%.
What are some of the benefits of refinancing your home loan with Horizon?
Owner occupier, variable, principal & interest, LVR 70% or less.
LVR 70% or less is available for new business only.