Let’s imagine you currently have a loan of $250,000 which you have taken over 25 years. You’re currently paying 3.99% p/a in interest and you are making principal and interest repayments on the loan. Your current repayments would be $1,319 per month.
Using the same rate of 3.99% and the same loan term of 25 years, what would it cost you per month in additional repayments to purchase your new pool?
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Increase to your mortgage
Extra monthly repayment
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