Although the interest rate you pay is important, it's only part of the story
Perhaps as important is the way your mortgage is structured. By having part floating and part fixed you can repay your mortgage at a faster rate than the minimum. And that's what makes the difference.
Check out the following,
A $100,000 mortgage at 6% over 25 years.
Fortnightly instalment: $297
Total interest paid over the 25 years: $93,178
Increasing your fortnightly instalment by just $50 will save $28,910 in interest over the full term.
Contact us to discuss further. We can help you structure your mortgage in such a way that you win!
Check out the following,
A $100,000 mortgage at 6% over 25 years.
Fortnightly instalment: $297
Total interest paid over the 25 years: $93,178
Increasing your fortnightly instalment by just $50 will save $28,910 in interest over the full term.
Contact us to discuss further. We can help you structure your mortgage in such a way that you win!