5 Uncomplicated Ways To Pay Off Your Mortgage Quicker

Rounding Up Weekly Payments

Another way to help you with your weekly payment plan is to round each payment up. Doing this ends up paying off your mortgage years faster and for a lot less money. Using the previous example, you could say you’re paying weekly payments of $375 to equal your monthly payment of $1,500. If you round up payments by to the nearest hundred, you would actually make weekly payments of $400. It doesn’t seem like much when you add a mere $25 to your payment, but it is a lot over the course of a year. Now you’re making an additional $1,300 in payments per year for almost two additional mortgage payments every year. If you pay an additional $2,800 per year, you will take years off your mortgage. You could save approximately thirty thousand dollars over the life of your loan this way.

Continue reading to learn about extra mortgage payments.