fbpx

Can a home loan be paid off early?

Can a home loan be paid off early? To some extent yes. A home loan has a contract length that cannot be breached without incurring an early exit fee. However, you are able to make additional repayments on your home loan to reduce the interest costs over the course of your loan. Lenders will often set a limit on the amount of additional repayments you are allowed to make so it is best to talk to your bank and find out what your maximum additional repayments capacity is