how much interest do you pay without using the money merge account For a 30 year mortgage, it takes an interest rate of just over 5.3% for the total interest to be paid to exceed the value of the loan itself. Halving the term of the loan doubles the interest rate that is required to duplicate this, but it also tends towards doubling the monthly repayments.


Download our basic amortization schedule which allows you to alter the amount of the loan, the interest rate and term.

Play around with the interest rate. The Money Merge Account system from United First Financial effectively reduces your interest rate while knocking years off your debt repayment term. Try reducing the rate 1%, then 2%. Consider if the reduced interest payment you see reflects what you would have to pay using the Money Merge Account. Then imagine that years were also dropped off the schedule. The Money Merge Account is not a simple bi-weekly or debt roll down program, but is a complicated technology system using factorial maths, which allows you to manage your money as effectively as banks do.

 

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