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home loan switching

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levipete01
New Member

Good day

 

I currently own a home, which I am renting out to tenants while I rent an apartment closer to my work.

 

My bond is currently with FNB at an interest rate of 12.55%.

 

My outstanding balance is R648 000 and I have 197 months remaining with a repayment of R7923 per month

 

After having discussions with friends and family recently, I realised that my interest rate is actually quite high and my monthly repayments are quite high.

 

I would like to find if the interest rate or monthly installment will be less if i switch my home loan to Standard Bank. I currently only have a credit card here.

 

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VictorR01
New Contributor

Hey buddy, it is an interesting question, I wanted to get it by myself but did not know how to make it right. I recently calculated my rate and understood that it is high too. A friend of mine said that I have two options, change to standard bank or take a loan from https://www.paydayloanamerica.com/companies/checksmart-review/ like both of them are good, as I read on the second option site, the loans from them are lower and better. Now I think where should I go, any suggestions?

 

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