Interest and Principal on Home Loans
We will guide you to crystalise your decisions.
Generally, interest and principal are included in repayments on owner-occupied home loans. You should pay interest and principal on your principal residence place, although VOXFIN’s best home loan mortgage broker in Australia will guide you to crystalise your decisions.
Understanding how the various types of loan repayments work
And how they might change over time is essential before deciding on a repayment plan
- By making principal payments, you will lower your principal balance and reduce the interest accrued over the life of the loan.
- Your overall interest payments may decrease as your principal balance diminishes with each repayment.
- Ensure you review current interest rates on loan products before applying for or accepting a loan, as interest rates are subject to change.
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