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Helping people achieve their financial goals

Helping people achieve their financial goals

Helping people achieve their financial goals

Helping people achieve their financial goals

Helping people achieve their financial goals

How does a home loan repayment work?

Home loan repayments can be setup either principal and interest or interest only.

Interest only is paying just the interest and therefore the balance of the mortgage returns to the same amount after the interest is paid. This is usually setup for investment properties in order to maximise the interest payable and therefore the tax benefit.

A principal and interest loan repayment setup refers to paying off a small portion of the balance each repayment in addition to the interest in order to pay the mortgage off over a period of time.

A home loan repayment is calculated so that a home loan is paid in full over a period of time usually usually over 30 years.

You can usually set up your home loan repayments so that you repay either weekly, fortnightly or monthly.

The calculation for weekly and fortnight can change between lenders depending on how the lender calculates the repayment. Some lenders use a 7 day week vs monthly divided by 4 to calculate the repayment.

Home loan interest is calculated on the outstanding balance each day and charged to the account monthly.

 

 

At Mortgage Broker Plus Adelaide SA, we find you the best home loans from 45 of Australia's leading lenders then assist you with your home loan application.

Whether you are looking to buy a home, renovate your property, refinance your current home loans or invest in property our mortgage brokers can assist you.

How we can help you with your finance?

We give you choice

We first assess your current financial situation then structure a finance strategy using 45 of Australia's leading home loan product providers. We take the time to discuss the solution with you to ensure a home loan structure that will be financially beneficial over the long term.

We work with you

We get to know you personally to understand your personal circumstances and use our experience to find the home loan products that will meet your needs. We work with you and not for a bank.

We work for you

We take care of the paperwork and manage the application process through to settlement.

Were about more than just home loans

We can also help you arrange insurance cover for your home or yourself including home and contents insurance, life insurance and income protection.

We get to know you personally to understand your unique circumstances.

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