Cut Your Mortgage in Half with These Tips

Making Biweekly Payments

Switching from monthly to biweekly payments can also help reduce your mortgage. This approach results in 26 half-payments each year, equating to 13 full payments instead of 12. This extra payment can shave years off your mortgage term. For example, a 30-year mortgage could potentially be reduced to about 25 years, saving you thousands in interest².