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Additional Loan Repayments
Extra funds paid into the loan in addition to the minimum monthly or weekly repayments. These extra funds reduce the term of the loan in some cases significantly.

The difference between paying a $500,000 loan at 25 years vs 30 years is $206 per month, but a total interest cost difference of $139,648 (based on 15 year average of 7.04% source YourMortgage.com.au)