I’m looking at an ANZ loan with a 10 year IO period. Should I fret over whether the total loan term is 25 or 30 years?
It’s only an issue if I don’t refinance at the 10 year mark or before isn’t it?
Thanks
Go for 30 years.
You can pay more as you choose.
But your minimum payment will be lower which is handy when planning for your next purchases.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks Simon.
I am an older borrower. Do you (or anyone) know if I’ll have trouble rolling into another IO term at around age 60, either with ANZ or another lender?Thanks
Age discrimination is a thing of the past with most lenders.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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