Episode 21: Unlocking How Your Mortgage Actually Works

Most first home buyers think a mortgage is just a loan but understanding how it actually works can help you use it as a tool for long-term flexibility and freedom.

In this episode, Jack Elliott breaks down how your mortgage works behind the scenes, from principal and interest to loan terms, repayment options, and how banks calculate interest daily. You’ll learn what really happens after settlement, how repayments are structured, and what influences the total cost of your loan over time.

If you’ve ever wondered where your money actually goes each month or how lenders calculate your repayments, this episode explains it all in clear, simple terms.

In this episode:
🔑 What a mortgage actually is
🔑 Principal, interest, and how repayments are calculated
🔑 How interest is charged daily and what that means for you
🔑 Loan terms explained and how they shape total repayments