The Summary. 7 Ways To Pay Your House Off Fast
Here’s a quick overview of the methods we’ve covered in our series, “7 Ways To Pay Your House Off Fast”:
1. Extra Monthly Payments: Boost your mortgage payment by $100 or more to reduce your loan term.
2. Wage Redirection: Direct your income into your mortgage account, using redraw, offset, or LOC options to keep more money against your mortgage.
3. Interest-Free Cards: Use interest-free credit cards for monthly expenses, keeping your cash working against your mortgage.
4. Last-Minute Bill Payments: Pay bills on their due date, using interest-free credit cards to delay cash outflows and maximise mortgage reduction.
5. Tax Returns: Apply your annual tax return to your mortgage principal for gradual reduction.
6. Surplus Rent: Use surplus rental income from investment properties to pay down your primary mortgage.
7. Equity Leverage: Invest in multiple properties to build equity, then leverage this growth to pay off your primary home.
Hope you have enjoyed this series and it can help you on your path to property investment success!
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~ Integrity Team