Benefits of Home Loans With Unlimited Additional Repayments

What is unlimited additional repayments?

If you have unlimited additional repayment you can pay extra on your mortgage without being penalised. You can make additional repayments of any amount every time you make a repayment. However, this is only applicable if you’re on a variable interest rate.

As an example, imagine your home loan amount is $350,000 at 3.64% interest. Your minimum monthly repayment is $1,599.14. The total amount you will pay in interest is $225,689 over 30 years. If you decide to add $150 on top of the minimum repayment, you will only pay a total of $189,316 in interest. That’s a saving of $36,373, plus you pay off your loan five years earlier.

You can use our additional repayment calculator to get an estimate of how much you can save from making extra repayments. This calculator is very easy to use. You just need to input your loan amount, loan term, payment frequency, and the amount of your additional repayment.



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Add Extra Payment
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Your estimated repayments are

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Understanding Home Loan Interest Rates

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