Tips For Young Property Investors – Shop around for a competitive loan

The investment loan market is highly competitive and this means you can find a mortgage product with features such as an offset account, the ability to make additional repayments, a redraw facility, and minimal ongoing fees.

Sourcing a home loan with these features will mean that you can lower your mortgage repayments and interest charges so you can focus on servicing your debt and reaching your investment goals sooner.

To demonstrate, if you have a $350,000 mortgage at 5.5% interest over 30 years and you decide to start contributing an offset amount of $2,500 in the fifth year, you will save a total of $7,268.28 and chop four months off your loan term by leveraging an offset account.

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Jason Gwerder
Wednesday, 16 March 2022

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