Change your monthly payment schedule to weekly. If you change your payments to weekly instead of monthly, your payment is applied sooner to principle loan amount which does not allow interest to compound as quickly, therefore reduce the amount of interest you pay and also helps to pay off house sooner.

 

Increase your payment by $10 or $20. You might not even feel the increase and soon it will become the norm but you will be able to pay off your house faster. Especially if your payment schedule is weekly another $10 will make a huge difference.

 

Make sure you pay off something extra every year. Take advantage of pre-payment privileges and check with your lender if they allow 10%, 15% or 20% pre-payment towards your mortgage amount. Make a habit to pay off little or more but for sure some extra money towards your mortgage every year.

 

Most of the people receive some tax refund every year. Try to put it towards your mortgage. Any bonuses you may receive from your employer consider using a portion of it towards your mortgage.

 

Port your mortgage, if you are change your property, take your mortgage with you to avoid penalties and higher rate. Make sure your mortgage have porting feature, most of them do.

 

Make a double mortgage payment whenever you can, especially in the initial years to save on the compounding interest. Doing this once a year can save you couple years off the mortgage!

 

Refinance your mortgage, yeah! Life happened and sometimes people end up with lot of high interest debt. Refinance to have a better cash flow so you can manage your payments. Lot of times people get tight on cash flow and keep going deeper in high interest debt.

 

If paying off your mortgage faster is one off your priority. Following these one or two things will start making difference over time and you can still payoff your mortgage sooner without affecting your life style.