Three Simple Steps to Early Mortgage Payoff

Your mortgage may be the biggest expense you ever have, so why not cut it down and get rid of it as quickly as possible? These tips make it easy to pay your mortgage down fast.

1.

Add Two Extra Payments Per Year

Typically, most lenders require you to pay your mortgage once per month on the first day of the month. This adds up to 12 full payments per year.

Rather than paying once a month, you pay every two weeks. This works out to two extra payments per year. In addition, this may pay down the loan faster and help you spend less on interest!

Round Up Your Payments

Rounding up your mortgage payment is a fairly easy way to save money on your mortgage and pay it off early. Round up as much as you can.

2.

Refinancing may not be a good choice if you simply plan on paying the regular amount for another 30 years. Rather than taking advantage of the new payment, continue to make your old payment.

3.

Refinance When Interest Rates Are Low

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