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How To Pay Off Your Home Loan Quicker

Better Loan Solutions in Mornington PeninsulaLearning CentreInsights


How to pay off your home loan quicker.

While many people are excited about the idea of buying their first home, it can also be overwhelming knowing that you have to eventually pay off a large mortgage.


The good news is that with some simple strategies, there are ways to pay off your home loan faster than expected.


Borrow less than you can afford

It’s important to have a very clear understanding of what your financial situation is going to look like once you’ve taken on a mortgage.


Increase your repayment frequency

Most lenders will typically put you on monthly mortgage repayments. While this might be convenient, it might not be the most cost-effective option for you.


Use an offset account

These days, there are several home loans that come with useful features that can help save you money on interest. An offset account is one such tool. This feature operates like a transaction account, however, it is linked to your home loan account.


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Our in-house Mortgage Broker can help you work out the best loan to finance your needs.
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