Epic Guide to MortgagesMortgage & Loan BanksUpdated on Jan 27, 2020 View more like this | Visit New Zealand, UN | Contact Opes Partners |
Getting a mortgage or home loan is an essential first step in your journey to homeownership. Very few people would ever be able to pay for a house/property completely in cash, unless they're very wealth or have downsized their own home.
That's why getting a mortgage is so important.
However, mortgages are also very expensive. Depending on your interest rate, you might pay as much in interest over a 30-year term as the size of your original home loan.
A $500,000 mortgage at 5.5% interest over 30 years will cost a total of 1,021,526. That's $500,000 going towards the original loan amount and $521,526 towards paying interest to the bank.
... and you wonder why so many banks make billion dollar profits!
This is why many Kiwis want to pay off their mortgage as soon as possible, which is why Opes Partners, a New Zealand based property investment copmpany has written the Epic Guide to Mortgages.
This 9,500 word guide will teach you the basics of how to get a mortgage and then pay it off more quickly. It even includes a real-life mortgage application.
That's why getting a mortgage is so important.
However, mortgages are also very expensive. Depending on your interest rate, you might pay as much in interest over a 30-year term as the size of your original home loan.
A $500,000 mortgage at 5.5% interest over 30 years will cost a total of 1,021,526. That's $500,000 going towards the original loan amount and $521,526 towards paying interest to the bank.
... and you wonder why so many banks make billion dollar profits!
This is why many Kiwis want to pay off their mortgage as soon as possible, which is why Opes Partners, a New Zealand based property investment copmpany has written the Epic Guide to Mortgages.
This 9,500 word guide will teach you the basics of how to get a mortgage and then pay it off more quickly. It even includes a real-life mortgage application.
