Paying regular extra payments on the principal will provide huge returns. You can pay more on principal in various ways. Making 1 additional payment one time per year is likely the easiest to track. But some people won't be able to pull off such a large extra payment, so dividing a single extra payment into twelve extra monthly payments works too. Finally, you can commit to paying half of your mortgage payment every two weeks. Each option yields different results, but each will significantly reduce the duration of your mortgage and lower the total interest paid over the duration of the loan.
It may not be possible for you to pay extra every month or even every year. But you should remember that most mortgage contracts allow additional payments at any time. Whenever you get some extra cash, you can use this rule to make a one-time additional payment toward your principal. If, for example, you were to receive a surprise windfall just a few years into your mortgage, paying several thousand dollars into your home's principal can significantly reduce the repayment period of your loan and save a huge amount on mortgage interest paid over the duration of the loan. Unless the mortgage loan is very large, even small amounts applied early in the loan period can produce huge savings over the life of the loan.
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