Browse Forums Home Finance Re: Saving on your mortgage 4Jun 20, 2006 12:00 pm The blog of my home being built: http://glint-bladesong.blogspot.com/ Re: Saving on your mortgage 10Jun 24, 2006 1:39 pm Wayne www.alphamortgagesolutions.com.au info@alphamortgagesolutions.com.au Contact us for a free consultation for advice on how to structure your loan for maximum benefit Re: Saving on your mortgage 14Jan 27, 2007 6:43 pm Wayne www.alphamortgagesolutions.com.au info@alphamortgagesolutions.com.au Contact us for a free consultation for advice on how to structure your loan for maximum benefit Re: Saving on your mortgage 15Mar 16, 2007 4:33 pm Hi everyone,
Talking about home finance... I applying for a home loan at the moment. http://www.startfinance.com.au I don't know much about finance, mortgage, but I believe I've got a good deal. It was time to stop paying rent anyway. Good luck aussies Re: Saving on your mortgage 16Apr 25, 2007 7:43 pm johnwilly1000 wats bi weekly. payments im paying off fortnightly and it takes from 30 years to 24 years to pay off. if i do 1 extra payment will it have 11 years interst off. It looks like nobody actually answered this with any clarity. Bi weekly mean paying 50% of the required monthy payment every fortnight, therefore there are 26 payments made annually. So at 26 x 50% = 13 monthly payments In essence you are paying 13 months' payments in 12 months. So when using web site calculators, take this into account when working out you payment options. You will be surprised how much you save in interest and years! Re: Saving on your mortgage 17Jul 05, 2007 2:31 pm We thought we were making no headway on our mortgage. We are five years into a thirty year mortgage, but the balance had not come down at all. My friend at work referred me to this guy who showed me how to cut the 25 years left into 7 years so we invited him around for a coffee. He sat down with us and found out how much we were spending on everything from shoelaces to car payments and then put a plan together so we can pay off our mortgage in approxiametly 7 years. We have been doing his strategy for 3 months now and our balance has come down more than it had in five years. He also got us a better interest rate. Two major things he taught us was you need a formal plan and you have to get a bit business like, but I can tell you it works. You also need to set up your mortgage properly. If you want to chat to him he is contacable on chris.fahie@virginmoney.com.au.
Good luck Charli Re: Saving on your mortgage 18Apr 15, 2008 4:18 pm I agree with Wanelad.
people will return for service. Mostg brokers however are interested in whatever it is to get the loan to settle. Thats it. To really save on a home loan consider a plan where you have a line of credit or 100% transactional offset account where your pays go into the account and you live off a 55 day interest free credit card which is swept monthly so you pay no interes. Along with a household budget so you can make sure you spend LESS than you EARN - you will halve your home loan this way. I train clients to do this every day and have seen some phenominal success. brendanj@achl.com.au Re: Saving on your mortgage 19Apr 16, 2008 5:40 pm Hi all,
Its pretty easy to cut your mortgage down, for example as previously mentioned on a $250K loan change to fortnightly repayments, this can cut up to 8 years and around $160K in interest. I know what your saying about lines of credit boomer althougn for the general population who are not very well disciplined with their money they can be a nightmare, I regularly refinace clients from OFI's into regular home loan products, recently had a client who had a LOC for 8 years and hadnt paid a cent off their mortgage and didnt know why?? Sometimes a small line of credit may be good alongside a standard home loan product, if someone has proven to themselves they can handle this type of loan they can then opt to change it to cover the total aggregated amount, just my opinion but i feel more comfortable recommending my clients go this way rather than the 'try it and see approach' Cheers Troy Re: Saving on your mortgage 20Jul 24, 2008 10:37 am ashlee - by your spelling (of "mom") and some of the things you mention (like college) - I am going to presume that you are somewhere in North America.
this is an aussie site - so I'm not sure how many people are going to be able to give you some good suggestions about where to get a loan. I've always found Suze Orman's website and books full of good advice. After 4 years - we're in! brokers will also be in a position to get you a better rate than the advertised rate most times. 6 6107 Not back peddling at all. You seem to have issues with comprehension my friend. Guy fcked up, he's considering being dishonest with his bank and hiding it. It will end… 21 12566 Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 30522 |