Everyone should know how to pay off their mortgage in 15 years or less. Our financial coaches will teach you how to smash years off your mortgage and use the equity you’ve freed up in your current house to continue to build wealth. After all, the path to building wealth should not be a secret.
Mortgage Debt Reduction
Our mortgage debt reduction recipe
Mortgage debt reduction requires a combination of four key ingredients. When combined, these ingredients form a powerful strategy that maximises the amount of years you can reduce your mortgage term by and minimises the total interest paid over the term of your loan.
Let’s look at each ingredient in more detail:
Offset Your Mortgage
Many banks offer a revolving credit or an offset account for a portion of your mortgage. This means you have the ability to not pay interest on that amount. Anytime you don’t have to pay interest, you save money. Therefore, this strategy is an excellent way to pay off your mortgage faster and save even more than simply getting the lowest interest rate.
Splitting your loans
Splitting the home loan into multiple fixed loans spreads your risk across multiple years. This is typically called a hedging strategy. If interest rates go up, it will only affect a portion of your mortgage, not all of it.
How do you split your home loan exactly?
It into depends on your situation. There is no one right way for everyone. A financial adviser with a mortgage debt reduction specialty will be able to analyse your situation and give you the best advice.
Paying extra repayments
Paying more than the minimum repayments is always important to paying off your mortgage faster. The two main ways to do this are making lump sum repayments and increasing your regular repayments.
Mortgage debt reduction specialist
Banks and most mortgage advisers don’t offer any type of advice regarding paying off your mortgage quicker. The mortgage advisers that do provide some type of mortgage structure advice usually leaves out several strategies – leaving money in the bank’s pockets.
Our advice is provided by mortgage debt reduction specialists who use years of experience to combine all the available strategies to give you a plan for saving the maximum on interest based on your situation.
We know the above is a lot to digest and, as paying off your mortgage as fast as possible is a long term commitment, repayments can fall by the wayside.
This is why you need plan – a plan that’s easy to stick to, easy to maintain and can be altered to suit your lifestyle – when and if it changes.
Find out how all 04 ingredients to pay off your mortgage super fast can work for you with your free mortgage savings report below!
Cam & Marie’s story
Paying off your mortgage FAST without changing your lifestyle
Your Fast Track Mortgage Plan combines all the mortgage debt reduction strategies and breaks them down into step by step instructions, showing you how to apply this recipe to your own mortgage.
01. A customised mortgage debt reduction plan that maximises your savings and meets your financial goals based on a budget you set
02. FREE practical resources to keep you on track to reaching your financial goals
03. Guidance from the Futurebound team on implementing and executing your Fast Track Mortgage Plan
04. Ongoing support to keep you on track and track your progress year after year
Since we believe everyone should know how to pay off their mortgage in 15 years or less, we provide a complimentary Fast Track Mortgage Plan with every mortgage we service (valued at $2000).
How FAST can I pay off my mortgage with the Fast Track Mortgage Plan?
Why Choose Futurebound
An average saving of $373,200 in interest
“Don’t leave your financial freedom to chance, Jeff is incredibly knowledgeable and passionate about helping build a better future. Highly recommend Jeff and the team if you have a property and are looking to increase your wealth by looking at buying an investment property. With Jeff’s help it is easier than you may think!”
“He arranged loan approvals from multiple banks with best interest rateJeff was very helpful and supportive to us in buying our first home. He arranged loan approvals from multiple banks with best interest rates. Very patiently answered all my stupid questions and advised us on bank loan repayments and finance planning. This actually helped us a lot to get through the stressful times. I would definitely recommend to anyone wants to get into the market.”
“Jeff is a really nice and considerate guy who really has your best interests at heart. He’s helped shave off tens of thousands of dollars of interest repayments, as well as helped me understand and implement ways to cut my mortgage repayment timeframe by about two-thirds. Thanks, Jeff and the team!”