Pay off your home mortgage in 15 years or less

Consult with an expert to find the right home
It’s best to hire a real estate professional to find the perfect home and negotiate the price on your behalf.

Maximize your down payment
It’s still best to pay your home using cash in full. However, since it takes time to save money before fully purchasing a home, you should at least put a minimum of 10% downpayment to reduce the amount you’ll need to pay off.

Pay extra each month.
Take whatever amount of money you have left each month and use it to make an additional principal payment. This will not just reduce the amount of payment you owe but also lowers the amount of interest you pay throughout the loan.

Pay bi-weekly.
This means paying half the amount of monthly payments every two weeks – resulting in  26 half-payments, or 13 full payments, which is one extra payment per year.

Refinance your home into a 15-year mortgage – or pretend you did.
Converting your 30-year mortgage to a fixed-rate 15-year mortgage will save you money and allow you to pay it off in half the time. If refinancing your mortgage isn't an option, assume that just a 15-year mortgage exists and commit to paying it off in fifteen years or less.