|
|
|
 |
|
|
|
|
|
 |
Home Loan Tips! |
|
|
| 5 TIPS THAT REALLY WORK TO PAY YOUR HOME LOAN OFF FASTER !! |
 |
MAKE YOUR FIRST MORTGAGE REPAYMENT ON SETTLEMENT DATE |
| Here is an excellent example of early payment that everyone should plan to achieve no matter what! This one simple action will cut thirteen months and save you $28,734.53 off your $300,000 home loan (with the professional pack at 8.77% on a 30 year loan)! |
|
MAKE 13 REPAYMENTS A YEAR |
A reasonably painless way to reduce your home loan is to ensure you pay it more frequently than monthly. Many loan products allow you to pay weekly, fortnightly or monthly. You get interest savings by paying more frequently,where interest is calculated daily, because you are reducing the loan balance on a more regular basis. If you have a tiny bit of extra money, you can gain an additional advantage by making your fortnightly repayment half the month (or weekly, one quarter). This achieves the equivalent of 13 monthly repayments each year and will save you $185,606.99 in interest and 8.4 years off your loan term (on a $300,000.00 professional pack home loan at 8.77%p.a plus fees).
Standard Repayments
| Calendar Month Payment |
$2397.31 |
| Annual Payments |
$28,767.72 |
| Amortised Fortnightly |
$1106.01 |
| Amortised Weekly |
$552.91 |
|
|
Your Payment
| 13 Month Payment |
$2397.31 |
| Annual Achieved |
$31,165.03 |
| Fortnight |
$1,198.66 |
| Weekly |
$599.33 |
|
|
|
NEGOTIATION AND PLANING IS ESSENTIAL |
| Up front negotiation can make a huge difference to the price you pay for "the rental" of your money. In following few examples, you can see how, with a bit of planning, you really can save a huge amount of money on a home loan, even without trying very hard... read more |
|
ABILITY TO PAY EXTRA FUNDS (AD HOC OR CONSISTENTLY) |
| Make sure you rhome loan gives you the ability to pay extra (regular or ad-hoc). Making additional payments on your loan, big or small, is a real benefit. If your interest is calculated daily, extra funds have the immediate effect of reducing the loan balance and, therefore, the interest payable...read more |
|
THE BIG FOUR BANKS AREN'T THE ONLY LENDERS WITH GOOD PRODUCTS |
| Big advertising budgets and size do not mean that a lender has the best products. Ultimately, it is your choice which you go with, but don't be afraid of smaller lenders and international banks. |
|
Home Loan Toolbox
| Dou you feel like something is wrong with your household budget? Something not quite right with your finances? You made more money this year than previous year but somehow you cant feel the that your lifestyle has improved as it should have? Chances are something needs fixing and you might just find the way in Your finances/home loan toolbox. |
 |
|
Home Loan Calculators
| For Your Convenience we have enabled access to some of the most popular loan calculators. Whilst these calculators are convenient to access they are only a simplified version of calculators used by professionals so, use them as a guide only.If you are in the market for a home loan or, would like to discuss results from any of these calcualtors in more detail please do not hesitate to contact us for a free professional consultation. |
 |
|
|
|
|
|
|
|
|
|
|
