Does a longer home loan term lower repayments?

A longer loan term generally lowers each required repayment, but it can mean paying interest for longer and therefore paying more interest overall.

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The advice on this website has been prepared without taking account of your objectives, financial situation or needs. Before you act on this advice you should consider the appropriateness of this advice in regard to your objectives, financial situation and needs. Lending criteria, terms and conditions, fees and charges apply to IMB loan products. You should consider the relevant Terms and Conditions and Product Disclosure Statement before deciding whether to acquire any of the products or facilities shown on this website. View our Target Market Determinations.

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