MAKE BIWEEKLY PAYMENTS
Ask your Lender if you can adjust your payments from monthly to biweekly on that same $100,000 mortgage. At 6% interest rate you could save up to about $600 alone
in interest costs over a five year term.

PREPAY ON THE PRINCIPAL
Ask your Lender if you can prepay up to 15% of the original principal amount of your mortgage without penalty each calendar year in amounts as low as $100.

For instance, on a $100,000 mortgage at 6% interest, amortized over 25 years you make a 2% lump sum payment each calendar year for five years. Beginning on the anniversary of your mortgage you would save about $1,300 in interest costs alone over the five year term.

DOUBLE YOUR PAYMENTS
Ask your Lender if you can double up on your payments.
Here is an opportunity to reduce your mortgage significantly. As an example, you would increase your payments once each calendar year to a maximum of 100% over the term of your mortgage.
Make sure to ask your lender if you can have the flexibility to choose to lower the payments back to their original level during the same term. Typically then, on a $100,000 mortgage at 6%, amortized over 25 years with a 10% increase in monthly payments at the beginning of the term would save you over $600 in interest costs over a five year term.
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A Mortgage Professional, Mortgage Broker or Bank Specialist in your area can usually provide you with a Bank or reputable Lender who have great Rates and Terms.
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MORTGAGE SERVICES CAN USUALLY BE PROVIDED IN MOST LANGUAGES OF YOUR CHOICE
Interest rates are subject to change without notice.
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