10 Tips to Help WithPAYING OFF YOUR MORTGAGE EARLY
Most homeowners would like to pay off their mortgage early. Not sure how to go about it?
Here are 10 tips on how you can do it!
- Add something to the principle of every month’s payment
- Make a payment every two weeks
- Make one extra payment a year
- Make extra payments whenever you can
- Apply money from your tax return or other windfalls to an extra full payment
- Refinance your mortgage to a lower rate, and keep making the higher payment
- Refinance your mortgage to a shorter term
- Find ways to cut monthly expenses and put the savings towards your mortgage
- In months where get a third paycheck, apply enough of that check to your mortgage principle to equal an extra payment
- Set a target payoff date that may challenging bit is attainable. Tell your family and friends what your goal is so yo have some social pressure
If you need more information on how to pay off your mortgage early, or if you are interested in refinancing your home, give me a call! I’ll help you own your home in less time.