Reducing the number of years it takes you to pay down your mortgage can turn your home into an even better investment – and we can help. Macquarie Financial has a variety of helpful ways for you to save even more money and become mortgage-free sooner:

  
• Make more frequent payments – Make payments weekly or biweekly instead of monthly. When you choose an accelerated weekly or bi-weekly payment option, you are essentially making the equivalent of one additional monthly payment each year. For example, paying your mortgage weekly or bi-weekly can reduce your mortgage term from 25 years to 21.   
• Increase the amount of your regular payments – Use extra cash to increase your monthly payments. Macquarie Financial let you increase your payments up to 20% each year. What’s the benefit to you? By increasing your payment by even a few dollars helps you pay down your mortgage faster because the increased payment amount goes directly toward reducing your principal. A lower principal means you pay less interest and save more over the life of your mortgage!   
• Make lump-Sum payments – Make a salary bonus or tax refund really work for you! At Macquarie Financial you can prepay up to 20% of the original value of your mortgage every 12 months. This is applied to the principal, reducing the outstanding balance of your mortgage.   
• Choose a shorter amortization at renewal – The outstanding balance on your mortgage is lower each time you renew. By choosing a shorter amortization period on your loan, and continuing to make the payment amount you are accustomed to, you will build equity faster.

These great features are available to you throughout the term of your Macquarie Financial mortgage. Take advantage of these money saving options by speaking to one of our Mortgage Solutions Specialists.

 

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