pay off your portage in 1/3 the period?

[smithers]

@dymesgirl Sounds like NZ Home Loans' pitch but you (essentially) pay them a subscription fee for them to tell you what is already common sense.

Edit : I see "NZHL's program" has already been detailed in this thread lol.

 

[thevalueoflife]

@dymesgirl Sailors and shippers alike know that cheap drayage costs you more in the long run.

 

[mightymlle]

@dymesgirl You could pay this sub the same money and achieve the same thing homeslice. Or better yet. Put it towards your mortgage lol

 

[vypr]

@dymesgirl Carry your canoe yourself — it’s free!!

 

[pamelalucia]

@dymesgirl I'll let you know a secret method we used to pay our 30 year mortgage off in 6 years.
We put lump sum payments into our mortgage account from our revolving each time that got into credit.

 

[brendanjamesstephen]

@dymesgirl If you borrow $800k for a house you can pay that off in 1/3rd of the time by seriously overpaying sure, but theres a hella lot of variables.

Is it over 30 years, so thats 10 years, you'll need to put in ~$110k+ a year or so to do that...

 

[vanda]

@brendanjamesstephen At 5% fortnightly payments over a 30 year term are $1,981.

Pay $2,425 a fortnight and it'll be paid off in just over 20 years. A little over $11,500 extra a year.

Pay $3,900 a fortnight and you'll get it done in 10 years. Just shy of $50k extra a year.

 

[nathanjs]

@vanda $3.9k a fortnight, even if I could afford it would, make me die inside a little.

 

[brendanjamesstephen]

@vanda Thats $101,400 a year , I was taking a punt on the $110k so wasnt that far off..

 

[vanda]

@brendanjamesstephen Indeed, pretty damn good for an estimate.

 

[linley]

@dymesgirl Never pay someone like that. Ever. All the advice your need is freely available

 

[seekingthelord34]

@dymesgirl Honestly a quality broker will help you structure your mortgage optimally, and they won't charge you a fee for doing so.

We used a Mike Pero broker when we bought our first house and had no clue, and he was super helpful in suggesting options for structuring the mortgage to reduce the repayment time and limit interest payments. That house we paid off in 5 years (It was a "cheap" house and we were DINKS at the time).

 

[joelsouza]

@dymesgirl Maybe he teaches the FIRE method

 

[dymesgirl]

@joelsouza Is that burn the house down?

 

[joelsouza]

@dymesgirl Yours sounds better make sure to over insure

 

[robinebc40]

@joelsouza What’s the FIRE method to paying off a mortgage sooner?

 

[manoah]

@dymesgirl The likes of staircase and properla will tell you to use your equity to invest in a rental property, they will probably “find” you that property (from a developer that’s paying them as well)

 

[askdkdldl]

@dymesgirl YouTube has all in the information you need, anyone with a magic plan is just fleecing you for money you could use to pay down mortgage.

 

[woventales]

@dymesgirl Pay me and I'll tell you how to do m it in half the time.....

 

[mimicap46]

@dymesgirl It's a revolving credit facility. The 'secret' is always a revolving credit facility. But why don't you go for it and tell us all afterwards?