For Australian homeowners
Payoff your home loan in 7-10 years
Debt Pro brings together six practical strategies and tools to guide you on how to payoff your home loan in 7-10 years. Don't pay for the expensive courses, we've laid it out for you in six simple yet powerful strategies.
Six proven strategies to payoff your mortgage faster
Each strategy builds on the others to create a snowball of extra income. This snowball effect allows you to payoff your home loan faster, save hundreds of thousands in interest, and shave years off your debt repayments.
The most direct way to attack your mortgage principal is by committing to regular extra repayments. Start by reviewing your budget to find a consistent surplus to direct to your home loan.
- Trim non-essential spending (e.g., Uber eats, regular takeaway or impulsive purchases).
- Cancel unused subscriptions and recurring monthly services (e.g., streaming services).
- Do a regular audit of your bills using a comparison site (e.g., switching energy providers or finding cheaper insurance).
The Impact: Consistently adding just $100–$200 per month can shave years off your loan and save you thousands in interest. For example, making an additional $200 per month payment on a $600,000 home loan with a 5.34% pa interest rate, will save $89,838 and 3 years and 10 months off your home loan.
Model your position to see how you can repay your home loan in 7-10 years
Start with your current position, then add in each of the 6 strategies. This calculator shows annual cashflow and how your assets grow and your home loan reduces over time.
Your current position
Strategy Inputs
When could you clear your home loan?
Projection charts
Flip between debt reduction and overall wealth to see how the strategy plays out over time.
Debt reduction & debt-clearing potential
Home loan can be cleared in: Year 10
Detailed year-by-year view
Switch between cashflow, loan details and your overall balance sheet to see how each year stacks up.
Annual cashflow overview
| Category | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10• can clear | Year 11• can clear | Year 12• can clear | Year 13• can clear | Year 14• can clear | Year 15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||||
| Net income (after tax) | $120,000 | $123,600 | $127,308 | $131,127 | $135,061 | $139,113 | $143,286 | $147,585 | $152,012 | $156,573 | $161,270 | $166,108 | $171,091 | $176,224 | $181,511 |
| Investment property rent | $0 | $0 | $35,000 | $36,050 | $37,132 | $38,245 | $39,393 | $40,575 | $41,792 | $43,046 | $44,337 | $45,667 | $47,037 | $48,448 | $49,902 |
| Investment income (portfolio) | $0 | $0 | $667 | $1,438 | $2,323 | $3,332 | $4,474 | $5,762 | $7,207 | $8,822 | $10,621 | $12,620 | $14,834 | $17,282 | $18,491 |
| Tax benefit / (extra tax) | $0 | $0 | $7,547 | $7,342 | $7,116 | $6,866 | $6,588 | $6,279 | $5,935 | $5,552 | $5,124 | $4,647 | $4,116 | $3,524 | $2,647 |
| Total income | $120,000 | $123,600 | $170,521 | $175,957 | $181,632 | $187,556 | $193,742 | $200,201 | $206,946 | $213,992 | $221,352 | $229,043 | $237,079 | $245,477 | $252,551 |
| Expenses | |||||||||||||||
| Living expenses (excl. mortgage) | $50,000 | $51,500 | $53,045 | $54,636 | $56,275 | $57,964 | $59,703 | $61,494 | $63,339 | $65,239 | $67,196 | $69,212 | $71,288 | $73,427 | $75,629 |
| Home loan repayments (total) | $49,400 | $50,765 | $52,171 | $53,619 | $55,111 | $56,647 | $58,229 | $59,859 | $61,538 | $63,267 | $65,048 | $66,883 | $68,772 | $70,718 | $72,723 |
| Investment property expenses | $0 | $0 | $10,000 | $10,300 | $10,609 | $10,927 | $11,255 | $11,593 | $11,941 | $12,299 | $12,668 | $13,048 | $13,439 | $13,842 | $14,258 |
| Investment property interest | $0 | $0 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 | $44,100 |
| Total expenses | $99,400 | $102,265 | $159,316 | $162,655 | $166,095 | $169,638 | $173,287 | $177,046 | $180,917 | $184,905 | $189,012 | $193,242 | $197,599 | $202,087 | $206,710 |
| Surplus / (shortfall) | $20,600 | $21,335 | $11,205 | $13,302 | $15,537 | $17,918 | $20,455 | $23,155 | $26,029 | $29,088 | $32,341 | $35,800 | $39,479 | $43,390 | $45,841 |
How the calculator works
Home loan repayments & interest
Monthly minimum + extra savings + fortnightly payments (Strategy 1 + 2) are paid as 13 “months” per year.
Salary growth (Strategy 4)
Each year, net income grows by your Strategy 4 rate. The minimum stays fixed, but an extra repayment is added equal to the compounded growth on that minimum (e.g., 5% of the minimum after 1 year, compounding thereafter).
Investment property (Strategy 5)
IP is purchased when usable equity ≥ 30% of purchase price. Loan funds price + costs. Rent and expenses grow with CPI (3% p.a.) and loan is interest-only.
Debt recycling (Strategy 6)
Starts after IP purchase. Year 1 draws your “Starting debt recycling amount”; later years recycle the repayments above the minimum. Recycled amounts are invested; portfolio earns yield + growth; recycled loan accrues interest at your home loan rate.
CPI / growth
Living expenses, IP rent, and IP expenses inflate at 3% p.a. Home and IP values grow at their specified rates.
Debt-free check
“Can clear” badge appears when selling IP + portfolio (after simple CGT) could pay off the home loan. Net worth = total assets minus all loans.