Is It Better to Refinance or Make Extra Payments
Read Is Making Extra Mortgage Payments Better Than Refinancing. Click yellow icon again to make this pop-up disappear REFINANCE ALERT.
How And When To Pay Off Your Mortgage Early Lendingtree
With a 4 mortgage you might do better to refinance your mortgage into one with a lower interest rate.
. For example if youre interested in paying off your mortgage off in 15 years as opposed to 30 you generally need a monthly payment that is 15X your typical mortgage payment. Might want to refinance to an option with a few more features like an offset account extra repayments or a redraw facility. Make sure the payment is principal and interest only.
If you picked up your first home loan with a small deposit of 10 or even 5 then you probably didnt get the absolute best interest rate around since the best offers are reserved for borrowers with LVRs. Because your LVR has changed. To make extra payments based on your financial goals.
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