Hey All, I just has my offer accepted for a my first IP! a 316k 3 bedroom house in Victoria.. All very exciting and scary! First mortgage..i will be renting this out for 275 a week, for the first 6 months, then living in it for the next 6 months to obtain first home owners grant.. I have decided to go with ING Mortgage Simplifier.. is this a good choice? Also i have a question about paying off the loan faster.. if i make additional repayments, does the minimal repayments reduce as the loan is reduced.. For example i will be getting a 270k loan which has minimal repayments around 2k a month, if i pay it down to 200k fairly quickly will the min repayments be reduced, so that i can eventually pay off the mortgage simply with the rent.. Sorry if this is a obvious question but new to how mortgages work..any comments/hints/suggestions would be great Cheers.