Compare your old bank loan to the Mortgage Mastery structure. Every dollar of surplus — your new savings plus new investment income — is trapped in your loan to wipe out years and tens of thousands in interest.
Built on a redraw structure: your full salary is credited straight to the home loan, cutting the balance interest is charged on, and you redraw only what you need for living expenses. Trapping every spare dollar in the loan — new savings and new investment income — is what wipes years off the term. It costs about $2 for every $1 you borrow, so the faster the balance falls, the less interest you ever pay.
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How it's calculated. The Old Bank Loan assumes a standard principal & interest repayment over the term you enter, at a constant interest rate. The Mortgage Mastery Loan applies that same minimum repayment plus your total monthly surplus (current savings + new savings + investment contribution) every month, reducing the balance — and the interest charged on it — faster. "Years to pay off" is the time to reach a zero balance; "Total repayments" and "Total interest" are the totals paid over that time.
What's assumed. A constant interest rate for the life of the loan, the full surplus applied every month without interruption, no fees, offsets or rate changes, and that any investment income shown is net of costs. The redraw structure assumes salary is credited to the loan and funds redrawn for expenses.
General information only — not financial, taxation, legal or credit advice, and not a forecast or guarantee. Figures are illustrative estimates based on the numbers you enter. Interest rates, rents and tax outcomes vary and can rise as well as fall. Fintrack is not a mortgage broker — lending is arranged through licensed credit representatives. Confirm any strategy with a licensed adviser before acting.