overview.
Dad's extra-repayment maths. The bit most first home buyers never get told: how an extra $50 a week, kept up consistently, can take years off a loan and save real interest, without needing a different life to do it.
That's Dad, John Kefalianos. As a finance broker he watches people overpay on interest for years, so I got him to show me the repayment trick most never hear.
"You do not need to overhaul your life. Fifty dollars a week, held steady, quietly does the heavy lifting."
John Kefalianos
what you'll learn.
- How small, regular extra repayments compound against the loan
- A worked example on a $475k loan, years and interest saved
- Where a redraw facility helps and where it trips people up
- How to keep repayments level when rates fall, and why that matters
Prefer to read? Grab the free first home buyer guides.
part of: home loans guide.
The Borrowing Power Truth-Sheet
Roughly what the bank will lend you on $60k / $80k / $120k / $180k income — single and couple, before-kids and with-kids. The actual numbers Dad runs in his office.
chapters.
Tap a chapter to jump the video to that point.
links Nicola & John mentioned.
more on Money tricks.
Same topic, different angle.