Pay off your mortgage with National Australia Bank Ltd, Rio Tinto Limited and Santos Ltd

These 3 stocks could make a positive impact on your mortgage repayments! National Australia Bank Ltd. (ASX:NAB), Rio Tinto Limited (ASX:RIO) and Santos Ltd (ASX:STO).

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With the ASX having fallen by a devastating 6% over the last month, it's understandable that a number of investors are beginning to question the merits of investing.

After all, the index's performance during the last year has been disappointing, with it being down 0.5% at the time of writing.

However, shares could still be the best means of investing for you and your family's future. They could also help to pay off your mortgage, too. So, with that in mind, here are three great companies that trade at reasonable prices.

National Australia Bank Ltd.

Perhaps the most fascinating thing about the ASX right now is that even though interest rates are just 2.5%, you can still get a yield of 6%. Indeed, National Australia Bank Ltd. (ASX: NAB) yields an incredible 6% and, best of all, is due to increase dividends per share at an annualised rate of 4.4% over the next two years.

That's well ahead of the current inflation rate of 3% and means that within a couple of years (and assuming no price change), NAB could be yielding as much as 6.4%.

With earnings set to grow by 5.7% per annum over the same time period, NAB could prove to be a relatively stable income play that proves a useful ally – especially if a loose monetary policy leads to higher inflation.

Rio Tinto Limited

As all investors know, the price of iron ore has tumbled in recent months to hit a five-year low. For iron ore producers such as Rio Tinto Limited (ASX: RIO), that's been really bad news and earnings have come under major pressure as a result.

However, with every disaster comes an opportunity and Rio Tinto has certainly taken this standpoint on board. It has cut costs, become more efficient and mothballed projects that it feels are unlikely to be economically viable at the present time. The effect of this is to place Rio Tinto in a strong position should demand for (and the price of) iron ore move upwards.

With shares in the company trading on a P/E ratio of just 10.5 and yielding 3.7% (fully franked), now could be a great time to buy a slice of Rio Tinto.

Santos Ltd

Capital gains could be on offer at Santos Ltd (ASX: STO), with the oil and gas supplier trading on a PEG ratio of just 0.48. This highlights that growth is on offer at a reasonable price, with a step-up in the company's earnings over the next two years expected to more than warrant the current heady P/E ratio of 19.

This should allow Santos to increase dividends per share at a stunning rate, with shares in the company on-track to offer a fat, fully franked yield of 4.6% in FY 2015. Together with its super-strong growth prospects, this could be enough to push shares higher and provide your finances with a welcome boost.

Motley Fool contributor Peter Stephens does not own shares in any of the companies mentioned.

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