what is a revolving credit facility and is it worth it for first home buyers

Yeah you’re actually pretty close with the “big overdraft” idea. A revolving credit facility is basically a part of your mortgage that works like a giant overdraft. Your income goes into it, your expenses come out of it, and whatever balance is left reduces the amount of interest you’re paying on your home loan. This can be very effective at helping you to reduce the interest cost as long as you are using it...