Paying off your mortgage early will save you money and take a financial load off your shoulders. Here are some ways to get rid of your mortgage debt faster.

Switch to fortnightly payments

If you're currently paying monthly, consider switching to fortnightly repayments. By paying half the monthly amount every two weeks you'll make the equivalent of an extra month's repayment each year (as each year has 26 fortnights).

It’s important to look after the tenants in your investment property – it encourages them to stay long term and take care of your property. So how can you keep your tenants happy? By treating your property like a business and your tenants like valued customers.

Most mortgage brokers in Australia provide advice and services to their customers free of charge, this is because they are paid mortgage broker commission by the lenders when they get a loan settled for a customer. Mortgage broker commission is paid in two ways by the bank or finance lender for each loan that goes through, these are called upfront commission and trail commission.

Getting a foot in the door of your dream home might be getting harder, but talking to a mortgage broker could get you the keys more quickly.

Purchasing a property in today’s housing market is not for the faint-hearted. Would-be home buyers have only to turn on their TV – or check Facebook or Twitter – for the latest news informing them that their dream home is slipping further out of reach.

Step 1: Speak to an MFAA Accredited mortgage broker

When considering an investment property, your first port of call should be your mortgage broker. An MFAA Accredited Mortgage Broker can help you achieve your investment property goals. They will review your assets and liabilities to determine how much you can borrow, which will, in turn, give you a general idea of your target price range, so you can narrow your property search within your purchase budget.

Step 2: Budgeting