About 34% of U.S. homeowners have paid off their mortgages, driven by a desire for stability in a changing economy. Here are three ways to pay off your mortgage early:
1. Switch to bi-weekly payments to make an extra full payment each year.
2. Consider creative refinancing options, such as refinancing to a lower rate while maintaining higher payments or opting for a shorter loan term.
3. Pay a little extra each month, even rounding up payments, to reduce the total interest paid and shorten the loan term. Always check for prepayment penalties before making extra payments.
Continue to full article
Discover more from Lisa Miller Pllc
Subscribe to get the latest posts sent to your email.