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Posted by Hashching on Jan 29, 2018 2:17:30 PM
Did you know that owning a house is different than buying one? Yes, unless you have paid your lender in full, your property does not really belong to you but your mortgage provider. So, do you want to wait for 30 years to 'own' your home?
If the thought of being in mortgage debt for the next few decades depresses you, here's a reason to smile - with some smart financial planning, you can own your home much sooner than you expected.
Did you know that paying a little extra each month can shave the years off your home loan as well as save you money in interest? Use this additional repayment calculator to see the numbers magically reduce as you pay a little extra, every single month. Of course, it helps to start paying off the principal early, but the first few years of your mortgage can be quite stressful. However, you can beat the stress by following a well-planned household budget and giving up on a few luxuries, such as yearly vacations and smashed avocados, for a while. You could also choose to keep all your savings in an offset account linked to your mortgage. This will save you a considerable amount of money as the interest on your mortgage is calculated after offsetting your account balance from the principal.
Getting the right home loan
Purchasing a home is a major financial decision. Thus, it pays to secure a home loan that fits your needs. Unfortunately, when it comes to home loans, one glove does not fit all. Based on your finances and future plans, a mortgage broker can offer you tailored home loan deals from various lenders. However, if you just decide to go with your bank, you would severely restrict your choice, and probably, savings, too.
Besides, as the mortgage market turns competitive, you no longer need to pay for being loyal to a bank. If you look beyond the big four, several smaller lenders and non-bank lenders are offering lower rates, great deals and seamless after-sales support. You can start by comparing home loan deals or get in touch with an expert broker at HashChing who will help you assess your situation better.
Get Started And Unlock Low Rates Today
About HashChing
HashChing is a borrower-friendly online mortgage marketplace, a first of its kind in Australia. Powered by sophisticated algorithms, it is a tech platform that enables borrowers to access and compare broker pre-negotiated mortgage rates from over 60 lenders across Australia. Besides, HashChing offers on-demand broker services wherein you can choose from verified mortgage brokers in your area, connect with them and discuss your requirement from the comfort of your favourite screen. Recognised for changing the landscape of the mortgage industry across Australia, HashChing continues to innovate, helping Australians realise their foremost dream of buying a home.