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This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Home Loans from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers, for further details refer to our FSCG. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a Home Loan, you will deal directly with a financial institution, and not with RateCity.

Accelerating Repayments

One way to save on interest with a home loan is by accelerating repayments. Accelerating your repayments means that the borrower makes extra repayments on their home loan to shorten the length of their loan term, with the added bonus of saving on interest. An example of this is by adding an extra $300 per month to a $300,000 home loan, with an interest rate of 7 percent, you could save over $100,000 and reduce a 25-year loan by six years and seven months.

If you are in the market for a home loan, check out the table below which shows variable rate home loans with an interest rate of less than 7.85 percent.
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About Mortgages Articles

RateCity provides mortgage news and features, including a range of weekly stories and economic updates. By checking our mortgage news and features daily, you can ensure that you receive up to date, expert commentary on current financial and economic issues. Before you search, compare or apply for the best mortgage for you, help yourself understand the market by reading mortgage news and features at RateCity.

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