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pay off loan tagged posts

How to pay your mortgage off early

The way the economy bounces up and down, wouldn’t it be fantastic to have one less payment? Paying off your home would be ideal. By using one or more of these simple plans, you could have your house paid off a few months or a few years ahead of schedule.

A really easy plan is to round up. If your payment is $543 and you pay $550, you can end up with fewer payments in the long run. As you pay extra each month, you are paying more toward the principal which results in a few less payments at end of the loan.

Another way is to pay biweekly instead of monthly payments. This works really well if you get paid biweekly. You will end up paying one extra month’s payment each year. The same as when you round up, you are paying more toward the principal and therefore you pay it off faster...

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