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Find out how you can get extra funds by Refinancing your home!

Disclaimer: The information shown here is indicative and for illustration purposes only. All financing applications are subject to credit evaluation and HLB reserves the right to approve or reject the applications.

Drop us your details and a HLB Refinancing Advisor will contact you to guide you from A-Z with no additional charges*!

*HLB will bear all legal fees, stamp duty and valuation fees for refinancing applications submitted from April 1, 2021 to June 30, 2021.

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Cash-Out Refinancing: How does it work?

Mr. and Mrs. Khoo bought a property in year 2015.

Property value

: RM800,000

Interest rate

: 4.15%

6 years later

Home loan balance

: RM400,000

Property value (2021)

: RM1,000,000

Mr and Mrs. Khoo decided to refinance for same tenure with a different bank.

Refinance Value

: RM600,000
(RM400,000 home loan balance + RM200,000 value increase)

New interest rate

: 3.15%

Cash out amount

: RM200,000

Why Refinance?

Save on Interest

Take advantage of lower interest rates to reduce your total interest payments or shorten your tenure.

Extra cash

Cash-Out extra funds to settle other higher interest debts, for home improvements or financial emergency.

Fund your investment

Cash-out to reinvest in another property in today’s buyer’s market or any other form of investment that you have evaluated.

Before you proceed to refinance your property loan, let's first assess your current property value.

Frequently
Asked
Questions

What is property loan refinancing?

How does PropertyAdvisor estimate the value of your property?

The property value calculation uses transacted property data gathered by PropertyAdvisor. To calculate the proxy price, PropertyAdvisor considers thousands of data points about the market, the neighborhood and the property itself. Keep in mind that these estimates of how much your home is worth are only a starting point. Hire a professional valuer or get a comparative market analysis from professional property agent before buying or selling.

What does Value of Property mean?

Is the Value of Property estimation from PropertyAdvisor the confirmed value?

How to use proxy price?

Why might I want to refinance my home?

Some reasons for refinancing are directly related to home value, while others aren’t. Refinancing replaces your existing home loan with a new loan. Refinancing might be a good idea if you want to:

1. Take advantage of better interest rates. Mortgage interest rates tend to fluctuate and if your current home loan was taken when rates were high, refinancing could help you reduce total interest costs.
2. Get extra funds. If the value of your home has increased over the past few years, the difference between your home’s initial value and its higher current market price can be utilised to ‘pull’ money out of your home. The obvious benefit here is that you can procure financing at a much lower interest rate when compared for example, to a personal loan.
3. Reinvest. Through cash-out refinancing, you can use the extra funds to reinvest in a higher yield asset like property, stocks or even opening your own business! Plant your seeds and watch them grow.

What factors can affect how my property value changes over time?

Unlike other assets, such as your car, a home often appreciates over time. Typically, real estate values tend to appreciate because there’s only so much space for new development. As time goes on, there’s generally more demand for less land, driving up value. If demand drops, however, prices could go down.
Other factors that can influence changes in home value are:

1. How much the house sold for in the past
2. Market conditions, such as the number of homes available and strength of the economy
3. Square footage
4. Age and condition of the house and property
5. Surrounding developments

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