Helpful Hints

What's important to you about a home loan?

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Choose the right loan

It is vital that you choose the right loan the first time. Making a mistake could cost you thousands of dollars. Unfortunately choosing the right loan for yourself is easier said than done. With so many different loans and lenders available today it is worth while getting help from a specialist. AAA Mortgage Solutions and their fully trained Lending Managers are there to help you choose the right loan tailored to suit your needs. We will guide and assist you every step of the way.

Paying Extra

If you want the flexibility to pay extra into your home loan, while having the access to your money in the future, you should choose a loan that offers that flexibility with no penalties. The good news is that most lenders provide this option. These days the banks have had to adapt to keep up with their competitors. The loan products that best provide this flexibility are :

• Standard Variable Loan with a free redraw
• Standard Variable Loan with 100% Offset
• A True Line of Credit or an Equity Loan

Paying extra into your home loan will reduce the amount of interest paid and also the term of the loan. It is important to keep in mind that most lenders have restrictions on how much extra can be paid into a loan during a fixed term.

Pay Your Loan Off Sooner

There is no magic or any great secret to this, the simple methods of paying your loan off sooner are:

• Increasing your regular monthly repayment
• Paying fortnightly (half the monthly payment)
• Extra lump sum repayments

Choosing the right loan to suit your needs is very important to achieve the best financial results and save you money.