Smart Mortgage Strategies: How to Pay Off Your Home Loan Faster
Is Your Mortgage Working for You?
When was the last time you reviewed your home loan?
Taking a closer look at your mortgage could help you save thousands, pay off your loan sooner, and even free up funds for investments or financial freedom.
Here are six smart strategies to help you reduce your mortgage burden and maximize savings.
1. Make Smaller Payments, More Often
Switching from monthly to fortnightly repayments can help you pay off your loan faster and reduce interest costs.
🔹 Example: If your mortgage repayment is $2,400 per month, switching to $1,200 fortnightly means you’ll pay $31,200 annually instead of $28,800—accelerating your loan payoff.
💡 Learn more about refinancing strategies.
2. Pay Just a Little Bit Extra
Even small additional payments can significantly reduce your mortgage balance.
✅ Round up repayments to the nearest full number
✅ Contribute extra funds from bonuses, tax returns, or gifts
✅ Make occasional lump-sum payments to cut down interest
💡 Find out how extra repayments impact your loan.
3. Keep Repayments Steady When Interest Rates Drop
If interest rates fall, keeping your repayments at the same level ensures more of your payment goes toward reducing the principal—helping you pay off your loan faster.
💡 Explore refinancing options to optimize your mortgage strategy.
4. Use an Offset Account to Reduce Interest
A mortgage offset account links to your home loan, reducing the interest payable by offsetting your loan balance.
🔹 Example: If your mortgage is $500,000 and your offset account holds $10,000, you’ll only pay interest on $490,000—saving money while keeping funds accessible.
💡 Learn more about offset accounts and how they can help reduce interest costs.
5. Find a Better Mortgage Deal
Your mortgage should match your financial situation—otherwise, you could be paying too much.
✅ Compare loan products to find better rates
✅ Negotiate with lenders to reduce fees
✅ Work with a mortgage broker for tailored solutions
💡 Speak to a mortgage expert to explore refinancing options.
Take Control of Your Mortgage Today!
At CBM Mortgages, we help homeowners:
✅ Compare loan options
✅ Optimize repayment strategies
✅ Secure competitive mortgage rates
📞 Contact CBM Mortgages today and start saving on your home loan!
Written by Craig McDonald 12/06/2025
