Cutting down your interest costs

Saving interest on your mortgage is easier than you think. On a home loan of $600,000 on todays rates, an additional payment of $80 per week can save you $100,000.

Hamish Patel

Mortgages Online

5 June 2019

Saving interest on your mortgage is easier than you think. On a home loan of $600,000 on todays rates, an additional payment of $80 per week can save you $100,000.

The banks calculate your interest costs on the daily balance so extra payments have an impact. By using a floating rate home loan you can keep a degree of flexibility on additional payments.

Written by Hamish Patel

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