The Value Of Making Extra Mortgage Repayments

Home loans have the potential to haunt us for many years - a constant barrier to major purchases and extended vacations.

However, there are ways to pay your mortgage off faster and achieve a debt-free existence much sooner than you may have originally thought.

By making regular extra repayments, you could potentially save thousands of dollars and potentially take years off your loan.

A mortgage calculator can help you to estimate the kind of savings you could experience - you simply input your finances and receive the results.

However, an online mortgage tool is not a substitute for a qualified mortgage broker. While you can get a rough idea of how much you may be able to save, a broker will be able to determine more specific numbers.

The sooner you begin a strategy of extra repayments, the faster you will see the results, so do not delay.

Remember, the best way to achieve your goal is to set yourself a budget - and you can always use ad-hoc funds such as bonuses and tax returns to help you along.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.