Welcome back Mark Fidgett here with www.Notapennydown.com.

A great way to start off 2016 with a few mortgage tips on how to become mortgage free FASTER.

Firstly, always choose accelerated bi-weekly payments, do not go monthly. Everybody chooses monthly by default and it does not help you pay down your mortgage sooner. By choosing accelerated bi-weekly mortgage payments you’re actually making two extra payments a year that go strictly towards principle and helps reduce your amortization. As we all know, the majority of your mortgage payments, especially in the early stages, go primarily towards interest.

Next, Make lump sum mortgage payments once a year. If you have any extra cash, maybe a tax refund, throw it towards your mortgage. Unless of course, you’re carrying higher interest rate debt. In that case, use the extra cash to pay off the high interest rate debt.

Another simple option, round up your mortgage payment.
If you mortgage payment is 775, make it $800

And lastly, here’s a secret mortgage strategy that’s super important. Not only does it help make you mortgage free FASTER, but it also reduces any future mortgage interest rate shock….

Pay your mortgage as if mortgage rates were already higher, because guess what, eventually they will be. For example, if you currently have a 5 year mortgage rate at say 2.5%, imagine where mortgage rates will be five years from now and then gradually increase your mortgage payments, such that at the end of five years you have already become accustomed to making mortgage payments based on future higher interest rates.

This simple strategy pays down principle and just as important, reduces any future increased mortgage payment shock.

Remember, there’s a lot more to mortgages than just great rates.


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