- April 3, 2018
- Posted by: Streamline Finance Services
- Category: Finance
Now as you might be aware I love coffee and you will often see me down at Cronulla Grind enjoying a morning cuppa but there has been lots of talk about giving up your daily coffee to help pay off your home loan faster. I would love to say I could do this but there is no way I could, so if you want to save on your home loan and NOT give up your coffee you are better to look at what rate you are paying and consider refinancing.
Refinancing to a better rate will in most cases save you much more than $3.50 a day Example:
If you refinance for .5% better rate on a $500,000 home or Investment loan you would save around $2,500 per year in interest ( $6.80 saving per day ) and I guess if you could give up that cuppa + the extra interest saved, your savings per year would be $3759 per year.
So as you can see simply moving your home loan or investment loan to a better rate will save you lots of money and you can still keep those life’s luxury’s
To discuss refinancing for a better rate or to discuss your loan over coffee ( my shout ) call us today 0417 131 057