Regardless of whether they have mortgage loan for investment property or their own home, all homeowners have one thing in common – the desire to pay the home loan off as soon as possible to be debt free. Investment property mortgages can be hard to navigate if you’re unfamiliar with the territory.
Luckily there are a few easy steps to follow that will help you to pay your investment property mortgage loan off faster and potentially save you thousands of dollars in the process:
- Always pay Principal and Interest on your investment property mortgage
- Reduce your loan term but give yourself flexibility
- Make repayments weekly or fortnightly on your investment property mortgage, rather than monthly
- Make a lump sum payment to reduce your investment property mortgage loan
- Make sure you have a redraw facility
- Use an offset account for your investment property mortgages
- Use your online resources
There are many options to consider to reduce your investment property mortgage repayments, read the full article to find out more.
Want to know more? Contact our team of Property Investment Specialists today.