Lighten The Load Of Your Loan With Extra Loan Repayments!

Has your financial situation changed for the better in the past few years? Then why not consider some extra loan repayments to lighten the load of your current mortgage or personal loan. With the help of a mortgage broker, you can figure out if your financial situation allows some extra loan repayments and if these would be more beneficial for your future financial situation.

How Do I Know If Extra Loan Repayments Are The Right Choice For Me?

Most people will experience a change of their financial situation, this can be an unforeseen expense or your financial situation could have improved due to a significant pay rise. When you feel like you could afford more and that you may be able to do some extra loan repayments, it might be a good idea to get a mortgage broker from 1300Home Loan.

With the help of mortgage broker, you can easily tell if extra loan repayments are possible and if they would be in your best interest. A mortgage broker can also negotiate with your current financial institution and work out a new deal that shortens your current payment term.

Should I Go For Loan Refinancing Instead?

Even though loan refinancing is most commonly used by people who find it difficult to keep up with their loan repayments, loan refinancing is also used to find better interest rates and payment terms. If you suddenly have extra money available, you could consider loan refinancing for a better interest rate and term.

For loan refinancing, we also recommend hiring the services of a mortgage broker. A mortgage broker from 1300HomeLoan can start the negotiations with the bank or the lender on your behalf, working out a new deal that is more beneficial to you. For example, a refinanced loan could give you a better interest rate, but with a shorter repayment term. Therefore you do not have to make extra loan repayments, but you are still better off in the long run with the new refinanced loan.

Can You Tell Me a Little More About the Extra Repayment Calculator?

The Extra Repayment Calculator on 1300HomeLoan enables you to get an estimate on extra monthly repayments. In this tool you can select the loan term, loan amount, interest rate, repayment frequency, the extra monthly repayments you wish to make and the term you want to start the extra repayments at.

With the help of our Extra Repayment Calculator, you can get an updated loan term and the time you will save by making extra payments to the financial institution or lender. Once you have used the tool, we recommend printing out the result and showing them to your mortgage broker for additional advice.

Can I Contact 1300HomeLoan For More Information On Extra Loan Repayments?

Are you not that familiar with extra loan repayments? Are you not entirely sure if a mortgage broker would be needed at this point? Do not hesitate to contact 1300HomeLoan and get our insight. To speak to someone at 1300HomeLoan, please call 1300-466-356 or send a message to enquiries@1300homeloan.com.au.