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Pay Off Your Loan Sooner

We can help you pay off your loan sooner, helping you achieve financial freedom or giving you equity to reinvest back into the market. Our team of mortgage brokers can help make this dream a reality, so you can achieve your financial goals sooner, rather then later.

How To Pay Off Your Loan Sooner?

Paying your loan off sooner doesn’t have to involve drastic cuts to your lifestyle and monthly surplus cash flow. Incremental extra repayments made consistently can have a dramatic impact on the life of your loan. For example, if you have a Principal and Interest loan of $500,000 over 30 years with an interest rate of 3.50%, making an extra repayment of $200 per month could shave four years off the life of the loan and save you $46,497 in interest.

Offset accounts

An offset account is a transaction account that’s linked to your home loan account. It can provide you with more flexibility and potential savings as it means that instead of being charged interest on the full loan balance, interest is charged on the loan balance minus the amount that’s in your offset account.

 

Redraw facility

A mortgage with a redraw facility is specifically designed to allow you to make additional repayments and redraw them at another time if you need to. This gives the benefit of allowing you to make extra payments and reduce the amount of interest you pay overall, while giving you the freedom to withdraw the money back out of your mortgage should it be necessary.

What our clients say

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Ej 100 profile picture
Ej 100
September 6, 2026
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Buying a home can be overwhelming and takes so much preparation, but Peter went above and beyond for us every step of the way. From our very first consultation to securing the loan, his expertise and responsiveness gave us total peace of mind and made the whole process seamless. I’m deeply grateful to Peter, and thanks to Nicole for her kindness and steadfast support right through to the end.
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Michael Druery profile picture
Michael Druery
August 28, 2026
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Excellent service from Kaleb, Erin and Isabella. Ensured that everything was ready and settlement went smoothly.
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Kian Belk profile picture
Kian Belk
August 28, 2026
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Highly recommend Duane and the team at Inovayt. They made the whole process of buying our first home so much easier and were always available to answer questions, explain everything clearly, and keep us updated throughout the process. Their communication was excellent and made the whole process feel easy, even answering the phone outside of office hours and on weekends. They went above and beyond to make sure everything came together, especially when things seemed stressful for us. We always felt like they had our best interests in mind and were doing everything they could to get us the best outcome. Really appreciate all the help and support throughout the entire process. We couldn’t be happier and would definitely recommend them to anyone looking for a mortgage broker!
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Jason Henwood profile picture
Jason Henwood
August 28, 2026
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Jason and the team at innovate were extremely helpful and kept us up to date throughout the whole process while purchasing our new home. Extremely happy with the service and will be using innovative again in the future.
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suresh inturi profile picture
suresh inturi
August 27, 2026
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Working with Kaleb, Erin and Isabella, and the entire team has been an absolutely wonderful experience from start to finish. Thank you all so much for your exceptional guidance, deep dedication, and for making us feel completely supported throughout this entire process. A special thank you goes to Kaleb for leading this effort so brilliantly and to Erin and Isabella for their incredible support and for always keeping everything so beautifully organised. Your prompt communication, warm professionalism, and deep market expertise truly made everything feel seamless and stress-free. We are incredibly grateful for the personalized attention and strategic advice you provided to secure the best possible outcome, and we absolutely look forward to working with your outstanding team again in few weeks 😀 Thank you so much 😀
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Ann Humphrey profile picture
Ann Humphrey
August 27, 2026
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Exceptional mortgage brokerage! The communication throughout the entire process was excellent, and they were always proactive with problem-solving to achieve the results we wanted. This is the second time we’ve used this brokerage, and once again they delivered above and beyond our expectations. We wouldn’t hesitate to use them again and highly recommend their services. A very happy repeat customer!
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Kazi Haque profile picture
Kazi Haque
August 24, 2026
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Thank you Kaleb. Had a great experience with your advice and service.
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Simon Zorgdrager profile picture
Simon Zorgdrager
August 21, 2026
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Very good communications. - keep you informed all the way.

Repayment frequencies

Many people pay off their home loans on a monthly basis because they get paid monthly. However, it is possible with some loans to make mortgage repayments on a fortnightly or weekly basis, and this could cost you less over the term of your home loan. When you make your repayments fortnightly, you end up paying an additional month per year due to there being 26 fortnights annually, not 24. Essentially, this means that you might not only save money in the long run, but you might also reduce the time you pay off your mortgage.

Extra repayments

If you have a variable rate mortgage loan, you may be eligible to make extra repayments on your loan. Sometimes, lenders will cap this at a certain amount, however, the more money you’re able to pay into your loan, the quicker you’ll be able to pay it off.

Our repayment’s calculator can help you figure out how much extra repayments you can make, and what it will save you.

Although we have outlined some basic debt reduction strategies above, it’s best to speak with an Inovayt mortgage broker to develop a personalised strategy to suit your circumstances.

superannuation

Helpful resources

Looking to pay off your loan?

Our calculator helps you calculate your repayments, giving you the ability to budget and save on interest!

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Find an Inovayt Finance broker near you

Our team of expert brokers are with you through every step of the way on your home buying journey. Not only do we help you find the right loan, we also stay with you right up until after settlement, helping you navigate stamp duty and other home buying fees.

Our team of expert brokers are with you through every step of the way on your home buying journey. Not only do we help you find the right loan, we also stay with you right up until after settlement, helping you navigate stamp duty and other home buying fees.

Our team of expert brokers are with you through every step of the way on your home buying journey. Not only do we help you find the right loan, we also stay with you right up until after settlement, helping you navigate stamp duty and other home buying fees.

Our team of expert brokers are with you through every step of the way on your home buying journey. Not only do we help you find the right loan, we also stay with you right up until after settlement, helping you navigate stamp duty and other home buying fees.

Our team of expert brokers are with you through every step of the way on your home buying journey. Not only do we help you find the right loan, we also stay with you right up until after settlement, helping you navigate stamp duty and other home buying fees.

Our team of expert brokers are with you through every step of the way on your home buying journey. Not only do we help you find the right loan, we also stay with you right up until after settlement, helping you navigate stamp duty and other home buying fees.

Our team of expert brokers are with you through every step of the way on your home buying journey. Not only do we help you find the right loan, we also stay with you right up until after settlement, helping you navigate stamp duty and other home buying fees.

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Start your journey, contact Inovayt today
Start your journey, contact Inovayt today
Start your journey, contact Inovayt today