Emanate Finance
MoneySMART Feed

Video· Debt· Payoff

Cashout for Renovations

Published · 1 min read

Your mortgage could have just been reset back to 30 years!

How is your mortgage really performing?

Take our 60-second MortgageSMART™ quiz to see if your mortgage could work harder.

🏡 Renovating Your Home? Don't Accidentally Add Another 10 Years to Your Mortgage! 😳💰

Getting an extra $100,000 to renovate your home might actually be the easy part.

The bigger issue is what happens to your existing mortgage when you do it.

Let's say you've got 20 years left on your home loan, and you want to borrow another $100,000 for renovations.

You approach your bank, they approve the additional funds, offer you a slightly better interest rate, and might even reduce your monthly repayments.

Sounds great, right? 🤔

But here's what you might not realise...

⏳ Your mortgage could have just been reset back to 30 years!

That means you could be adding another 10 years to your mortgage, potentially costing you tens of thousands of dollars in additional interest over the life of the loan.

💡 That's where having the right mortgage strategy makes a difference.

With MortgageSMART, we look beyond simply getting your renovation finance approved.

We look at how your entire mortgage could be structured to help you: ✅ Access funds for your renovations. ✅ Potentially reduce your interest rate and overall repayments. ✅ Avoid unnecessarily extending your mortgage term. ✅ Put a strategy in place to pay off your mortgage sooner.

Because getting the renovation you've always wanted shouldn't mean automatically adding another decade to your home loan. Want to see how this might work for you?

✅ No email required. ✅ No phone number required. ✅ Just practical strategies that could save you thousands in interest and potentially help you become mortgage-free years sooner. ✅ 👇 Click Learn More to watch the full video.

🏡🔨💰

General information only. This is not personalised financial advice. Loan terms, repayments and potential savings depend on your individual circumstances. Consider your circumstances before making financial decisions.

Your next step

See what this looks like on your loan

Pick the goal closest to yours and we'll take you through a few quick questions.

More from the feed

See everything