How to Pay Off Your Mortgage FAST

Pay Your Mortgage Off  Fast. Tips for home buyers

Tips to Pay Off Your Mortgage

Pay your mortgage every two weeks. You can make an extra month's payment each year by paying half of your monthly  payment every two weeks. If you have a 30-year mortgage for $220,000 at 4% interest, then you'll pay off your mortgage 11 years early. 

  • For example, your monthly mortgage payment might be $600. Pay $300 every two weeks- on the first and the fifteenth of every month. To make things easier, automate your bill paying. 
  • Alternately, you could divide your monthly mortgage payment by 12 and contribute the amount to each month's payment. For example, your monthly payment might be $600. you can contribute an extra $50 and pay $650 each month. In this way, you'll make an extra month's payment each year. 

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