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In today’s climate many of us may not be thinking about paying down a Homeloan quickly. However, this is something that should always be on our minds. How to do it? Some basic steps are 1) don’t buy more than you can afford. Keep your payments well within your means so that you can increase them. 2) Make increases. Take advantage of options to increase your monthly payment or make additional payments. 3) Pay semi-weekly. This means making payments every two weeks instead of every month. Often this will correspond better to your pay schedule anyway. With these tips in mind, you should be well on your way to paying off your home mortgage quickly!
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