The purchase of a Clayton home is one of the most important investments you will make. Once you’ve purchased your first home and settled comfortably in it, you may begin to wonder how you can pay your mortgage off faster.
I’ve compiled some quick tips to help you pay off your mortgage quickly and efficiently:
1) Increase Your Payment Frequency. There are several financial institutions with a wide range of payment options for first-time homebuyers. Whatever the plan you select, you can save interest by making more frequent payments on top of your regularly scheduled payments.
2) Increase The Amount Of Your Mortgage Payments. Putting any funds from an increased cash flow towards your mortgage payments can shorten the term of your mortgage.