Owen Raszkowski

speaker

352 appearances 1 recordings 1 series first heard Aug 2021 last heard Aug 2021

Owen Raszkowski’s voice in public audio — every appearance, attributed to the second.

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People in Cairns, I believe, can at the moment buy a house for cheaper than they can rent, which is great.

So good on you, Cairns.

You've got great weather and you've got a great housing situation, unlike us down south.

So let's just say the amount borrowed is $728,500.

So that's a weird number.

Let's just think there's a seven.

Over 30 years, your repayment frequency is monthly.

And you charge $399 a year in fees.

You know, you get one of those premium packages or advantage packages.

There's two scenarios here, Kate.

One is an interest rate of 2.99%.

And the other one is an interest rate of 2.19%, which is about what we're on here at Rask HQ, Home HQ.

Okay.

So if you have the higher interest rate of 2.99%, you're going to pay over a million dollars back over the life of your loan.

You're going to pay the $728,500, which you owe, plus $378,755 that's in the interest and fees.

However, if we have the alternative solution, obviously you pay back the principal, but you pay $277,942.

So what's the difference?

Well, just eyeballing it here, it's about $110,000 less.

Over the life of the loan, $110,000.

Every month, it's a difference of around about $350,000 to $400,000.

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