Having debt can be a psychological burden. When you have something as large like your mortgage loan looming over you, you may be tempted to pay it off as soon as you can. However, this may not always be the best decision. Here are a few ways you can consider settling your loan earlier, and their impact on the amount of interest you will be paying. Refinancing means replacing your existing home loan with a new home loan from another bank. Repricing also involves replacing your existing home loan with another home loan, but within your current bank. When you refinance or reprice, you can switch to another home loan with a shorter loan tenure. Here’s how different loan tenures affect your interest payments. Although having to pay less interest on your home loan is a compelling prospect, here are a few situations in which it may not be the best route.... Continue Reading