Free Tips to get mortgage free faster!
Look at the structure you have and ask the question. "Is this structure right for my situation?" Simply by taking the time to talk to an expert and look at your structure you could save valuable time and money.
Do you have a game plan for when interest rates start to rise? If not you should look at interest rate averaging. Basically splitting your loan across different fixed terms so that you minimize the risk of being caught with all your loans coming off at the same time.
Did you know if you paid the minimum repayments, on a $660,000 loan, with an interest rate of 5.59% you would pay interest of $702,514 over 30 years. Making the amount you paid for your property a staggering $1,362,514, BUT if you increased your monthly payments by just $100, you would save 2 years and a whooping $52,919 worth of interest off your lending