5 easy steps are all it takes
Instead of monthly payments, consider semi-monthly, biweekly, or weekly. It's easy and because you're making payments a bit sooner each month, it adds up to big savings over the years.
Shorten your amortization period: the number of years needed to pay off your mortgage. The less time it takes, the less you pay in interest.
Increase your regular payments by as much as you can afford to.
Each calendar year you can make additional lump sum payments of up to 20% of your original mortgage balance, which is a fast route to mortgage freedom.
Each calendar year you can increase your mortgage payments by up to 20% therefore increasing the amount paid against your principal, , which is a fast route to mortgage freedom.