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If you want to own you home sooner and save on fees paid to your bank you must start doing this.
TWO WEEKS CAN SAVE YOU THOUSANDS… AND YEARS
Did you know, that making and saving money is a bloody easy thing to do? A prime example of this is how often you make your mortgage repayments. Most people do it monthly, but if you simply swap to fortnightly repayments you would save thousands.
It’s not magic and it won’t leave a hole in your hip pocket… How?
If you pay monthly, you make 12 payments per annum, right?
If you pay fortnightly, you make 13 monthly repayments because there are 26 fortnights in a year.
This extra and more frequent payment system means huge savings for you!
- $500,000 loan
- Interest saved: $302,085
- Time saved: 8.1 years
- Assumption: Based on a 30 year home loan at 9% interest rate
Makes good sense, don’t you reckon?