Switching from monthly payments to bi-weekly payments may be one of the easiest ways to pay off your mortgage. Since theres 52 weeks in a year, and you'll be making payments every 2 weeks, you'll be making 26 payments per year instead of 24! Since many workers are paid bi-weekly, its easier to budget your income, as well as a smart way to pay off your mortgage faster.
Extra Principle Repayments
Also known as Lump Sum Payments, this particular feature can help pay off your mortgage faster without worrying about interest. If your interest rate is 3% and you put down $10,000. You're already saving $300 in one year. This isn't even considered how many years left you have on your mortgage.
Shorten Your Amortization Period
By switching from a 30 year amortization to a 25 year amortization or less, you'll be able to pay off your mortgage even faster. While your monthly payments may be higher, you'll be paying less interest since you'll have a shorter amortization period to pay it off by.