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4 Smart Strategies to Pay Off Your Mortgage Fast (Without Going Broke)

4 Smart Strategies to Pay Off Your Mortgage Fast (Without Going Broke)
June 29, 2018 betterhomes

 

For most of us, there’s an implicit understanding that buying a home will nearly drain your bank accounts. You’ll shell out for the down payment, the home inspection, and—just when you think you’re done—the closing costs.

OK, you’re forking over a ton of cash upfront, but once you’re past that, you’re golden, right? You are—until you remember that you have to actually make payments on that mortgage you got. And the interest. For the next 30 years. And 30 years of paying 4% interest on your $200,000 mortgage can seem like indentured servitude—especially when you consider that those interest payments add up to tens of thousands of dollars over the life of your loan.

But what if you could pay off your mortgage in less time—and whittle down that crazy interest you’re forking over each month? Apparently, it can be done—and you don’t have to go broke in the process. Here are four expert-approved tips to get you started and on your way to putting money back in your wallet.

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