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Extra Repayments

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Why should I make extra payments to my home loan?

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Once we take out our home loan and set up direct repayments from your bank account it is quite easy to let the bank determine how much your payments will change by when there is a rate drop or increase.

Have you ever thought about what the impact would be if you maintained your repayments when the rates dropped? In most cases if you are paying weekly or fortnightly you will already be saving years and interest on your home loan, sildenafil but added to this, pill if you retain the larger repayment you will find your savings will multiply AND you will not only be saving money in interest and reducing the term of your loan, but you will also be building more equity!

Equity will help you get ahead.

With equity you will be able to access funds from your home in the event of needing funds to do home improvements, consolidating your debts or buying an investment property.

Equity is the difference between how much you owe and how much your home is worth. We can provide you with a free property report that will give you an indication as to how much equity you already have.

Another feature of home loans is the ability to link an offset buy cheap clonazepam online account or have a fully transactional home loan. By having the offset account linked to your home loan you will find that the term of the loan and interest will decrease, thus once again building that equity. We can provide you with customised examples of how this can work for your own situation.

The same principle can apply with your investment properties. Having equity in these homes will mean that if there is sufficient equity, you could use this to fund another investment property, and hopefully avoid having to use your owner occupier property instead.

We suggest speaking with your accountant prior to adopting any investment strategies.

Our Team @ Diversifi is highly trained and knowledgeable in all facets of credit assistance.

Contact: enquiry@diversifi.com.au

 

DISCLAIMER: While we have taken all reasonable care in producing the information contained in this article, we do not promise that it contains all the information you need to answer all your questions. This document is for information purposes only, and must not be relied upon as a substitute for professional services or legal advice. Diversifi Pty Ltd does not guarantee the accuracy of information provided by third parties related to this article.

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