mortgage refinance case study

how we helped use the equity in a house to refinance debt

Charlie and Linda purchased their dream house 3 years ago...

Charlie and Linda purchased their dream house 3 years ago through a $300,000 home loan over a 25 year period. Having just recently married, the purchase of the house was just the beginning of their journey together.

Fast forward to the present, Charlie and Linda are happily together with twins and their dog Reed as well as a $25,000 car loan, two credit cards totalling $8,000 and a personal loan for $15,000 which they recently took out for home renovations.

Over the last 3 years, their repayments have increased from $1,600 per month for just the mortgage, to $2,695 per month as their debts grew. It has been particularly tough as Linda has had to cut down on her work hours since having the twins. Charlie and Linda started to look into debt consolidation loans to minimise their debts and had applied for a $45,000 debt consolidation loan through NMONI.

Looking at their current circumstances we quickly realised that a debt consolidation through their mortgage would be a better option. Effectively, Charlie’s and Linda’s debts were consolidated into the home loan at a better rate than 3 years ago when they first got their home loan. 

Overall, their monthly repayments have reduced from $2,695 to $1,750 per month. As a result, Charlie and Linda can now focus on their family and creating future financial wealth.

women laptop

How we find great rates

1. Complete our online application

10 minutes is all it takes.

2. We search for the best lenders

We go to work to find the best deal for your situation from a panel of over 40 lenders.

3. Choose your loan

Choose your preferred lender with complete transparency of rates and fees.

4. We send you the money!

Review and sign the loan documents, and will transfer the money within 24 hours.

Use the nmoni advantage to save

We compare, you save

We'll find a great deal from our panel of over 40 lenders.

Low rates

We use our 20 years of experience and cutting-edge technology to find you the lowest possible rate for your circumstances.

Protect your credit score

Applying for a loan won't impact your credit score until you are ready to proceed.

No nasty surprises

All fees and charges are fully disclosed upfront, so you know exactly what is going on and what it’s going to cost.

Apply in 10 minutes

We’ve built a simple and secure online system to fast-track your loan request.

Intelligent decisions

We can provide approvals within a few hours using our personalised finance platform

Advanced Technology

Let our sophisticated finance platform work for you with a real-time personalised rate offer

Flexible loan repayments

To suit you and your situation.

Our experience is your advantage

We use our deep market experience to find you the best rate for your situation.

Ready to get started?

Apply anytime, anywhere