Extra repayments are additional amounts paid on top of your regular home loan repayment. Even a small, consistent top-up adds up over time. A lump sum repayment works the same way, but as a one-off payment. Think of a tax refund, bonus, or inheritance, put straight onto your loan balance. Both reduce what you owe sooner, which means less interest charged over the life of the loan.
Our pay off home loan faster calculator lets you add a regular extra repayment, a one-off lump sum, or both, to your current loan details. It then shows your new payoff date and total interest saved. It’s a simple way to test a few strategies before committing extra cash. That’s true whether you’re paying down a home loan in Melbourne’s west or anywhere else in Victoria.
Every extra dollar comes straight off what you owe, so you’re charged interest on a smaller amount from that point on. Over time, that means a shorter loan and a lot less interest paid overall.
Paying extra regularly means adding a bit more to every repayment. A lump sum is a one-off, like putting a work bonus or tax refund straight onto the loan instead of spending it.
No, your minimum stays the same. What changes is how much sooner you finish paying the loan off.
Not always. ariable loans are usually flexible, but fixed-rate loans often cap how much extra you can pay each year. Some charge a fee if you go over.
Both save you interest, but an offset account keeps your cash within reach if you need it. Paying extra goes straight onto the loan, which can be harder to access again. A broker can help you figure out which fits your life better.
Sometimes, through a redraw facility, but not all loans offer this, and some charge a fee. Worth checking before you rely on it.
Not really, it depends on what you can comfortably afford without stretching your budget. Even small, steady amounts make a genuine difference over time.
We’ll check whether your current loan lets you pay extra without a fee. If it doesn’t, we can compare other options across 52+ lenders that might suit you better.
Explore our other free calculators to see how repayments, rates, and loan structures connect, and where your best option sits.
See how much time and interest you could save, then have a chat with a broker about the best way to make it happen.
Credit Hub Australia
Join our dynamic team at Credit Hub Australia as a Finance/Mortgage Broker in our conveniently located Point Cook office, close to the freeway and train station, with free parking available.
In this role, you will be responsible for providing personalised mortgage solutions to our valued clients and also managing your colleagues by co-ordinating the allocation of files and general day to day running of the broker team. With a focus on delivering exceptional customer service, you will guide clients through the entire mortgage process, from initial application to final approval.
“Position is for Mortgage broker on commission/contract basis.”
Sales, cold calling, and networking come naturally to you. You thrive on engaging with prospective clients to understand their unique financial needs and goals.
You will act on leads and existing database as provided and generate sales and ongoing relations.
Actively participate in team meetings and contribute to the overall success of the business
You are an existing broker with proven experience in Mortgage Broking or lending abilities, or in a similar financial services role looking to take your career further with a successful Mortgage house.
In-depth knowledge of the Australian mortgage market, including products, policies, and regulatory requirements.
Excellent communication and interpersonal skills, with the ability to build lasting relationships and earn client trust.
A strong commitment to delivering outstanding customer service and consistently exceeding client expectations.
Self-motivated and capable of working independently, while also thriving in a collaborative team environment.
Relevant industry qualifications, such as a Certificate IV in Finance and Mortgage Broking.
Ability to manage multiple tasks, stay organized, and work reliably without supervision.
A results-driven mindset with a strong sales focus, coupled with exceptional work ethic, time management, and multitasking abilities.
At Credit Hub Australia, we are committed to providing our team with a supportive and rewarding work environment. Some of the key benefits of joining our team include:
Credit Hub Australia is a leading provider of mortgage and finance solutions, with a strong presence in the Point Cook in the Western Suburb of Melbourne and surrounding areas. Our mission is to empower our clients to achieve their financial goals by delivering personalised, expert advice and exceptional customer service. We are a dynamic and growing team, driven by a passion for helping our clients and making a positive impact on our local community. We are with Finsure as an agrregator Group.
If you’re ready to take the next step in your career as a Mortgage Broker, apply now to join our team at Credit Hub Australia.
