7 Ways to Pay Off Your Mortgage Sooner

Pay Off Your Mortgage Sooner

7 ways people could pay off their mortgage sooner:

  1. Make extra payments on the mortgage, either as a lump sum or on a regular basis.
  2. Increase the frequency of mortgage payments, from monthly to bi-weekly or weekly.
  3. Refinance the mortgage to a lower interest rate or a shorter loan term.
  4. Use a home equity line of credit (HELOC) to pay off a portion of the mortgage.
  5. Use savings or other investments to pay down the mortgage balance.
  6. Rent out a portion of the property to generate additional income that can be used to pay off the mortgage.
  7. Make higher monthly mortgage payments, either by increasing your income or reducing your expenses.


Speak to a mortgage broker in more detail about these 7 Ways to Pay Off Your Mortgage Sooner and avoid making mistakes others commonly make.



Read also:

Five benefits of using a mortgage broker

Principal and Interest Vs Interest Only

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