8490 replies to this topic

[Adam]

Oops

[Morgan]

WOW home loan interest can suck a large supertanker full of penis'

 

Can't imagine what it would've been like 25 years ago when it was at 18%...

 

I've paid $2344.50 off the loan

 

Then interest for Jan got put on.

 

Now I've only paid off $413.60

 

[ams]

I like how we're always on the same page with things. Makes life so much smoother.

[B4TT]

How many times have you said this about pretty much any female?

Most times.

[Zac]

WOW home loan interest can suck a large supertanker full of penis'

 

Can't imagine what it would've been like 25 years ago when it was at 18%...

 

I've paid $2344.50 off the loan

 

Then interest for Jan got put on.

 

Now I've only paid off $413.60

 

Completely understand... in 2 years of having the house, only paid off like 6-7k of the loan... like wtf?

 

We started making extra payments too, to help bring it down quicker, but the amount of interest in the beginning is insane... looks like you're getting nowhere

[Morgan]

It really does...

 

As long as I meet the monthly payments I know I'm ok. Just sucks seeing it pile back on!

[ams]

No no, you pretty much are getting nowhere - it doesn't just feel like it.

No wonder home ownership is so hard these days. Easy to get a mortgage but hard to actually OWN any of your house...

[Adam]

We've paid off 10k in 2 years below the 250k Mark now

I swear we borrowed more than that!

[Zac]

Well it is disheartening to see the mortgage almost never go down... you think to yourself, in 1 year, I've paid like $25k into my homeloan and it has gone down $2k.... like wtf... $23k in interest? Sigh...

[skillionaire]

I don't quite understand that, I do in a practical sense, but in reality I don't. After 5 years I've paid off $92k.

[Zac]

I don't quite understand that, I do in a practical sense, but in reality I don't. After 5 years I've paid off $92k.

Because of extra repayments?

[Morgan]

But how much have you actually put in?

[skillionaire]

In a large part, yes, but are you guys fixed?

[Zac]

In a large part, yes, but are you guys fixed?

Nope... I'm on variable... but still, extra repayments do help, because that little extra you are paying means a little less interest... in all adds up.. anyway, in about 3 years time, I hope to have paid off about 50k of my loan... just the initial years are where it doesn't look like it is going down much...

[skillionaire]

But how much have you actually put in?

 

Around a buck thirty

If I had just pretended I had a loan for the last five years I could pretty much buy outright tomorrow.

 

THE WORLD WE LIVE IN. ETCETERA 

[Shaz]

Extra repayments will knock ALOT of time off lads. 

 

$50 a week saves you 8 years and $70k in interest over the life of the loan.

[Morgan]

THAT'S LIFE!

 

 

In a large part, yes, but are you guys fixed?

 

I have $50k fixed and the rest in a variable.

[Zac]

Extra repayments will knock ALOT of time off lads. 

 

$50 a week saves you 8 years and $70k in interest over the life of the loan.

Yup... I think I'm doing about $100 extra a week on a $300k loan... so I hope it'll be paid off in about 15 years time...

[skillionaire]

Extra repayments will knock ALOT of time off lads. 

 

$50 a week saves you 8 years and $70k in interest over the life of the loan.

 

How thefuck would you know?

 

 

But listen to the bank man, bank man knows what's up.

 

 

Lucky for me my old man was an underwriter for a large portion of his life, so my financial steeze is hella propper.

[Shaz]

Yup... I think I'm doing about $100 extra a week on a $300k loan... so I hope it'll be paid off in about 15 years time...

 

$100 a week will save you 11 years and $116k in interest Sack.