How to Pay Off a 30-Year Mortgage in 25 Years with Little Effort!

Did you know that paying your mortgage every 4 weeks instead of once a month reduces a 30-year loan by almost 5 YEARS?

Paying your mortgage every month for 1 year = 12 payments.

Paying your mortgage every 28 days for 1 year = 13 payments.

The trick to reducing a 30-year loan down to 25.5 years is finding a painless way to make one additional mortgage payment per year!

Since it might never feel like a good time to make that extra payment, here are 4 different ways to make that one extra payment:

  1. Make one addition mortgage payment anytime during the year.
  2. Double up on your mortgage payment one time during the year.
  3. Pay your mortgage every 28 days instead of once a month.
  4. Set up a Bi-Weekly Payment Plan and make 1/2 payment every 14 days. Some finance institutions offer a bi-weekly payment plan. Simply call the customer service number on your mortgage statement and ask if a bi-weekly payment plan is available to you.

Fun fact: Make two additional mortgage payments per year and reduce a 30-year term to 22.5 years.

It’s hard to argue against paying off any and all debt as soon as possible. I would recommend paying off higher interest rate loans, such as credit card debt, prior to considering making additional mortgage payments. If you have any questions, feel free to email me at [email protected].