What if I was to make a one-off repayment to my home loan? How much will that save?
When you use our Lump Sum Repayments Calculator, you’ll find out precisely how much faster you can repay your debt. You’ll also determine how much interest you can save simply by including an extra principal payment during the loan.
It’s possible to save a lot of time and money when you provide a one-time payment. With this calculator, you’ll find out how you can dodge unnecessary payments and avoid years of interest payments. Putting more money towards your debt to wipe out a portion of it will decrease the time you spend repaying your loan back. With this in mind, you’ll get out of debt quicker by including a lump sum payment, and you can calculate those savings with this calculator. You may then find your extra equity helps to fund an investment property or further property purchase!
Your financial situation and a few variables come into play when determining whether you should pay off your loan or invest. Analyzing your situation will allow you to make the best decision for you. This is what you should keep in mind: