By Rohit Ranchhod | Mortgage Broker Waikato | Pay off your Mortgage WAY faster
Are you eager to accelerate your mortgage repayment time and save big bucks? Let’s dive into some savvy strategies, without the banking jargon.
You’ve probably Googled ‘How To Pay Off Your Mortgage Faster‘ or looked for strategies on how to accelerate your mortgage repayment time” and stumbled upon advice, mostly from banks. They suggest things like making fortnightly payments instead of monthly ones or boosting your payments a bit. These can help, but the impact might be limited – maybe just 2-3 years off your mortgage.
But here’s a revelation: Banks are profit machines! They lend you money for a house, but you pay a hefty price over the long haul. Have you ever thought about how much interest you’ll dish out to them over your lifetime?
Remember, their aim is to fatten their pockets and please shareholders. They do this by keeping you as a loyal customer for as long as possible.
We’ve been duped into focusing on interest rates, equity, and 25-30 year mortgage plans. But, what if that’s not the smartest approach?
What if there’s a way to save hundreds of thousands and break free from the bank’s grip sooner?
Spoiler alert: There is!
Now, let’s talk about things you might not know but should:
1. 🧐 Wondering how much moolah you’ll hand over to the bank throughout your loan’s lifetime?
2. 🏠 Curious about your loan type? Ever heard of redraws, offsets, or salary crediting?
3. 🤔 Thinking about shifting personal debt to your home loan? Is it really a wallet-friendly move in the long run?
Banks have been playing a sneaky trick on us for ages, and we’ve fallen for it. But fret not, we’re here to open your eyes and help you fight back!
Let’s start with some easy-to-grasp ideas:
1. 💰 Lower interest rates might not be the magic bullet. Longer loan terms could be the real culprit behind your lengthy mortgage.
2. 💼 Consolidating debt with your home loan? It could stretch your mortgage timeline, not shrink it.
3. 💡 Those fancy mortgage structures? They’re more bank-friendly than you. Banks know how to whittle down your loan, but they’re not doing you a favour.
When you chat with pros like us, you’ll uncover gold nuggets like:
– 💸 Paying yourself first – Demystifying where your money goes and how interest adds up.
– 🕵️♂️ Insider secrets – Learn the ABCs of equity, LVR, credit scores, and how banks play the interest game. Knowledge is your weapon!
– ⏳ Maximizing vs. minimizing payments – Banks want to please shareholders, not you. Uncover why they’re not your best buddies.
– ⚙️ The Clever Mortgage Repay Plan – A masterstroke to slash interest payments. This tweak might make banks a bit sad but your wallet will thank you.
Banks tricked us into thinking it’s smart to lump all debt into a 25-year home loan. Here’s the truth: it’s a win-win for them.
Their goal is simple: pump up THEIR profits. And guess what? They want you paying for ages, even when rates are low.
You’ll explore tools like offset accounts, revolving credit, and smart money management. Yes, it takes effort, but imagine being mortgage-free in a mere 10 years instead of 25!
Ready to outsmart the banks and become a mortgage ninja?
Let’s roll Book in for your free Strategy Session on how to Accelerate Your Mortgage and pay it off much faster than you thought possible.