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Refinancing, Home loans, mortgages Home Loan & Mortgage Basics
Refinancing, Home loans, mortgages Facts about Home Loans
Refinancing, Home loans, mortgages Importance of Building Equity
Refinancing, Home loans, mortgages How to Afford a Mortgage
Refinancing, Home loans, mortgages How are Mortgages Approved?
Refinancing, Home loans, mortgages Financial Calculators
Refinancing, Home loans, mortgages Mortgage Bonds.
Refinancing, Home loans, mortgages Recognizing a Bad Mortgage Loan
Refinancing, Home loans, mortgages Mortgages For Non-Residents & South Africans living abroad
 

















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mortgage broker 7 Steps to Refinancing
mortgage broker Benefits to Refinancing
mortgage broker Debt Consolidation Pitfalls



Refinancing, Home loans, mortgages FAQ
Refinancing, Home loans, mortgages Free Course by Email
Refinancing, Home loans, mortgages Prequalify Myself

debt Mortgage (Bond) Tips
 

If you have a mortgage you are not the owner of that property, but you are the OWNER OF A MORTGAGE.
Your mortgage is going to COST YOU MONEY month after month and the sooner you can settle your debt the better.

There are numerous ways to shorten your mortgage (bond) term without refinancing (switching of bonds). We’ll be discussing some ideas briefly.

Paying Off Your Mortgage Loan Early

While everyone wants to pay off their mortgage rather sooner than later, it requires a lot of planning and discipline to transform wishes into reality. Consider the cost savings in the example below.


If you take out a 30 year loan for R500,000.00 with a 12.500% interest rate, for example, your monthly payment (interest and principal only) will be R5,336. By the time the 30 year time period is complete, you will have paid R1,921,008.96 for your home.

By paying just R200.00 more each month, you will pay only R1,509,854 toward your home. This is a saving of R411,154. In addition, you will get the loan paid off 7 Years 3 Months sooner than if you paid only your regular monthly payment.

What can you do nowadays with R200? Not much, but it can contribute to massive savings on your mortgage and help you getting out of debt much faster.

Use A Mortgage Calculator
Mortgage calculators can help you to find out what you can afford before going to a bank or mortgage broker. You do not have to call your broker every time interest rates change since you can figure out the costs and benefits yourself with a mortgage calculator.

You can factor in your deposit, the cost of the home, and interest rates and you can see your monthly payment. This will help you to determine if you can afford a home or not yet. You can also see great benefits by increasing your payments for example. Click on any of our free mortgage calculators below and learn more.

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Consolidate Your Debt Into Your Mortgage
Mortgage loans offer cheaper credit, and one way to give yourself some breathing space is to consolidate your debt into your bond. This is where interest rates are much lower than credit card, personal loans and vehicle finance. Therefore debt consolidation would help you to reduce your monthly repayments. Thus you would be paying an interest rate that applies to home loans on all your high interest debt.

For more information see the following money saving articles below
- Recognizing a Bad Mortgage Loan
- How to Afford a Mortgage Bond
Debt-Free Living
- Are Debts Keeping You Up At Night?
- Good Debt vs Bad Debt
- Budgeting – It Has to be Done Otherwise You’re Sunk!

To apply for a loan you will have to fill out a short application form. You will then receive a FREE quote from well established, nationally recognized lenders. You do not need to decide now whether the loan is for you.

Just apply and compare the repayments to your current situation. There is no obligation on your part. If you decide that it is not for you, you simply do not have to accept the offer. You have nothing to lose and everything to gain.

20 Second Applicationn
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