You should always bear in mind that the shorter your loan term, the lower the overall interest charge and ultimate mortgage cost. So paying off your mortgage faster really makes sense. You can save thousands of dollars by paying less interest and use the money for more important things in your life. Contrary to what most people think, paying off your mortgage faster is not that hard. 3Carrots prides itself on being very good at helping clients to achieve this. Here are a couple of ways out there that you can check out to see which works best for you.

• Shorten the term of your mortgage by taking advantage of today’s low mortgage rates.
• See if you can save cash and lower your interest bill by applying different terms using 3Carrots’s Repayment Calculator and Mortgage Offset Calculator.
• You can consider cash-in refinancing where you put money on your mortgage to pay-off your loan faster and minimise your interest payments.
• See how much you can save by having your salary paid directly into your home loan.

For more details on options how to pay off your mortgage faster, you can talk to one of our 3Carrots mortgage brokers by calling 0434 390 688 or email doug@3carrots.com.au.