Yellow Brick Road: Home
YBR

Andrew Morello: Golden Rules for Paying Off Your Loan

In this article:

An excerpt from Andrew Morello's eBook The Morello Matrix: your guide to property investment. Andrew, the winner of the first series of Celebrity Apprentice Australia, provides his comprehensive personal approach to buying real estate and building a property portfolio.

To get your free copy of the full Morello Matrix eBook visit  www.ybr.com.au/morellomatrix

Add extra repayments 

Pay more into the mortgage, by starting with adding $500 per month.

Fortnightly repayments

Make the change to fortnightly repayments, rather than monthly.

Pay every bonus into the mortgage
Pay every additional payment your receive such as tax refunds and work bonuses straight into the mortgage.

Take the first step

Don’t be tempted
Avoid buying new cars (or any cars) with the loan. Over time, these savings mean you’ll be able to buy nicer cars all the time or more importantly build up wealth from property much, much faster.

Add everything
Once you have your first property, it is time to supercharge the growth in equity to leverage into a second property.

Me?
I throw everything but the kitchen sink into these strategies. I put every spare penny into the mortgage. I find a mortgage broker to find me the best refinancing deal, including a lender hungry for my business or who is a believer in the area

I’ve bought in.

Feature articles

3 Essential things to consider while Refinancing While there are multiple factors you need to consider while switching home loans, here's our take on three aspects that every borrower should deem as non-negotiable.

Are Packaged Home Loans worth Considering? Based on their advertised rates, Packaged Home Loans may appear to offer more value than their non-packaged counterparts. But this may not be the case. Here's a look at what you need to look at while considering a packaged loan

The Flipside of Fixed-Rate Mortgage Cashback Offers Record low fixed-rate home loans with tempting cashback offers may leave you financially worse off in the long run. Here's what you need to be mindful of while considering any cashback offer.

How to tell if your Mortgage Broker Is good A quick guide on what to look for in a good mortgage broker and how to make the most their services

Six Easy Steps to Close Your Home Loan Faster Here are six easy measures anyone could deploy to close their home loan sooner.

View all articles



Enquire now