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Should I pay extra into my mortgage?

We recommend paying extra into your mortgage whenever you have an opportunity. Doing so can enable you to pay off your bond in a shorter term, saving significant amounts of interest in the process.

For example, If you had a bond debt of R1 500 000 with a 20 year term and 7% interest rate; paying an extra R2 500 into your mortgage every month would reduce your bond term to 13 years and save you R445 042 in interest in the process.

You can use ooba Home Loans’ free online tool, the Extra Payments Calculator, to calculate how much your additional monthly repayments will save you in interest and by how much they can reduce your bond term.

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Simply The Best

Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

Tia J

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Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

Brice G

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Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

Butana M

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