Home Mortgage Offset+Contribution vs Lump Sum Repayments

11 June

Written By Nomad FI

Scenario 1: Extra +1K Contribution Per Payment (Fortnightly)

Result: Interest Saved: 319K / Time Saved: 16 Years

Increased Repayment: 2.4K

Scenario 2: Extra +500 Contribution Per Payment (Fortnightly)

Result: Interest Saved: 238K / Time Saved: 12 Years

Increased Repayment: 1.9K

Scenario 3: Lump Sum +150K + Extra +500 Contribution Per Payment (Fortnightly)

Result: Interest Saved: 200K / Time Saved: 14 Years

Increased Repayment: 1.5K

Vs Target Scenario 1:

Scenario 2: +81K in Interest / Extra Time: +4 Years

Scenario 3: +119K in Interest / Extra Time: +2 Years

Summary: Scenario 1 is our Focus.

EK Home Mortgage Repayment Offset (Contribution Analysis)(v4)(6.29%)