What Is a 10 Year Interest Only SMSF Mortgage?
SMSF, standing for the self-managed super fund, is a fund that allows you to invest in your retirement and choose where exactly you would like to invest. This loan is a great option for someone looking to increase their wealth and prepare for retirement. Using an SMSF home loan allows you to invest in an investment property that will create and produce income in the future.
A ten-year interest-only SMSF mortgage allows borrowers to only pay the interest on a home loan for ten years. Interest-only SMSF mortgage loans have reduced monthly repayments to let the borrower pay off other debts or save. Interest-only SMSF mortgages also allow a borrower to claim higher tax deductions on their investment property. SMSF mortgages can be tricky to establish, so it is highly recommended to reach out to a professional lending specialist or mortgage broker for assistance in successfully establishing your SMSF mortgage.
SMSF mortgages are not offered by all lenders, so you will want to compare the various lenders and SMSF mortgage loans available to you and decide on the best option for your financial requirements. SMSF mortgages are available in various types, so researching the costs and lender terms and conditions should be completed before applying.
Mortgage House professional lending specialists can answer any questions you may have about a ten-year interest-only SMSF mortgage and walk you through the difficult application process to ensure everything has been completed properly.