How Can I Pay My Mortgage Faster? – Learn How Today!

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Guys, do you want to learn how to pay off your mortgage in half the original amortization period or even faster?How Can I Pay My Mortgage Faster? - Learn How Today!

Today I am going to be teaching and sharing with you the practical ways you can save hundreds of thousands on mortgage interest by paying it off more quickly.

This is powerful strategy known and understood by just few persons out there. However, the strategy can be implemented by anyone anywhere in the world.

Actually the strategy is not limited to just mortgage debt, it can be implemented for host of other debts like student loans, auto loans, credit card debts etc.

Advantages of paying off your mortgage debt more quickly:

  • This can lead you to financial freedom – You feel less financial stress
  • Paying it off sooner means paying less interest which means more money in your pocket – more emergency fund
  • More money in your pocket means ability to save more for retirement
  • Ability to save more for retirement means being able to retire early
  • Early retirements means being able to pursue other goals in life, such as traveling or living a lifestyle that pleases you
  • No mortgage debt means ability to be able to take more risk in life, such as investing, starting up a business – Pursuing an entrepreneurial journey that you’d love etc.
  • Zero mortgage balance means being able to give more to charity
  • The list goes on and on guys …..

Tips To Payoff Your Mortgage Faster

There are about five strategic tips that you will have to follow to achieve 100% result.

Set a goal for yourself:

Write down your goal and stick it somewhere you will be seeing it often. You can stick it on your refrigerator, it could be on your mirror etc. Your goal could be something like this:

  • I want to payoff my 25 years mortgage in 7 years or in 5 years or .. etc
  • I want to payoff my mortgage quicker so that I can have more money in my pocket to travel the world
  • I want to retire early at the age 50 years by paying off my mortgage faster and start putting money towards my retirement.
  • I want to be mortgage debt free before I get married etc.

These are example of goals you can set for yourself and make sure you stick it somewhere you can always see it.

Budgeting & Planning:

Yes you read it right, discipline yourself by developing a spending budget plan. This would be the second step to take to achieve your desire to payoff your mortgage faster.

You will need to start by monitoring your everyday spending without changing your habits. If you notice that you were spending outrageous amount of money on unnecessary things then it’s time to start cutting off those superfluous spending.

If you can start saving those couple of dollars or pounds or euro or naira here and there that you are wasting on things that you don’t necessarily need but spending money on daily, weekly, monthly or even yearly, it would go a long way in helping you in this journey.

Those things could be:

  • TV subscriptions that you don’t even have time to watch
  • Buying stuffs in the mall or shopping center because they are on sales not because you need them
  • Daily or weekly dinner out in the restaurant instead of cooking your own dinner at home
  • etc ……

You can start budgeting by creating an excel spreadsheet to organize your salary/incomes, debts, saving etc

Do the calculation to figure out the amount you would like to spend on groceries, utilities, gas, etc and see how much you would have left that you can put towards the principle of your mortgage – Remember, the lesser the principle the lesser you pay on interest.

See, the toughest part of developing a budget is actually being able to follow it through. Discipline yourself to stick with the budget no matter what. Always remember your goal which is to payoff your mortgage in x amount of years faster etc.

Create a Passive Income:

This is very important step. Some people called this a side hussle or side income. This will help supplement your current income and help your financial plans. It could be a part-time work or even a work from home kind of opportunity. You need to be careful here as there are lots of scams out there.

You can actually checkout my #1 recommended work from home opportunity here. This side hussle can actually turn into full time for you as it did for many folks already. You can focus on the goal you earlier wrote down by inspiring and helping people reach their dream of financial freedom with this opportunity.

There are so many other things you can do to make extra cash. You can freelance and take up evening or weekend positions, you can walk dog for neighbours or rent out a room in your house etc.

Basically, you can do whatever it takes to earn the extra cash as long as it is lawful to do it.

How Can I Pay My Mortgage Faster? – Learn How Today!

Want To Start Making Money Online For Free?

Be Economical/Frugal In Your Spending:

Making passive income can only get you so far if you’re not disciplined to be frugal in your spending. Learn to cut your spending cost while still living a good life on a frugal budget.

To do this, you might have to let go so many things while learning to do so many things yourself. Be an expert DIY.

You can reduce your spending by:

  • Fixing things around the house instead of spending hundreds of dollars on them. Things like, cutting your own lawn, hanging your TV yourself, building your fence/deck yourself, fixing your gadgets etc.
  • Learn to cook your own food at home instead of spending hundreds of dollars eating out
  • Grow your own vegetables in your yard would also save you a lot.
  • Downgrading your cable and phone plans
  • Learning to make your own cleaning supplies
  • Etc ………

Hmm … this seems hard huh?

But here is the kicker – YOUR GOAL COMES FIRST IN THIS JOURNEY – Always remind yourself that you are doing this for a purpose.

It is better and wise to live broke now and live the way you want later. Most people live the other way round.

Get Line of Credit (LOC) or Home Equity Line of Credit (HELOC):

After you’ve carried out all the above 4 steps diligently for about a month or two, then you can tell yourself that I am truly ready for the journey and you can initiate this last step by walking into your bank to see what you can get for LOC or HELOC.

Oh, another debt right?

Yes it seems another debt but guess what you’re about to take the same step that the bank uses to make money.

Typically the bank borrows from the Central bank (called the big boss bank or government bank depending on the country) at a specified interest rate and then lend same money to you and I in form of mortgage etc.

Mortgage loan is different from LOC or HELOC because the interest rate calculations have different formulas

Even though the interest rate number that the bank gave you on LOC or HELOC seems a bigger number than that of Mortgage rate, trust me, you will always end up paying more interest on mortgage than on LOC or HELOC.

How is that possible?

The interest rate on mortgage is calculated using a more complex interest formula because the lender has a period that the mortgage loan is expected to be paid back. This type of loan is 1 dimensional because you can only pay it back, you can’t dip your hand in it to use it directly after paying it.

While ………

The interest rate on LOC or HELOC is calculated using the simple interest formula because the lender doesn’t have a specific period that the LOC or HELOC will be paid back. This type of loan is 2 dimensional because you can pay it back and borrow it again and again and again.

Boooooom! That’s the saving’s kicker there guys!!

We are going to capitalize on this difference in interest rate calculation to get your mortgage paid off sooner while saving hundreds of thousands in mortgage interest.

Still doubting Thomas? Still not convinced? See below illustration ……

Now Let Us Implement The Strategy Together in a Case Study

All the highlighted steps above are very vital and would help discipline your spending habit and get you really ready on the journey to paying off your mortgage faster. So to get 100% positive outcome from this strategy, make sure you’re not skipping any step.

Let get real with the Practical Step By Step Approach you’ve been waiting for guys:-



Let’s say your household net income is: $72,000 / year (that’s about $6,000 / month)


Let’s say your mortgage debt balance is: $300,000

Mortgage amortization period remaining: 25 years

Mortgage term & rate: 5 years fixed at 3.99%

Payment amount & frequency: $1,676 / month

Car Loan

Let say your monthly premium is: $700 / month

Credit Card

Let say your CC debt cost you: $500 / month

Household Expenses

Let say monthly living expenses is: $2000

Note: This will include groceries, movies, utilities, cable, phone etc

Total Monthly expenses: $4,876

Total Monthly Leftover or Savings: $1,124

Line of Credit

Let say you have approval for $20,000 limit

LOC interest rate: 10%

How Do I Know The Strategy Works

I will try to illustrate the strategy with two possible scenarios.

  1. A scenario where the strategy is NOT implemented
  2. A scenario where the strategy is implemented

A scenario where the strategy is NOT implemented

Assuming you are going to be paying this mortgage premium over the 25 years amortization starting from today January 27, 2019.

Here is the details of your amortization schedule chart:-

How Can I Pay My Mortgage Faster? - Learn How Today!

A scenario where the strategy is implemented for Just 5 Years

Assuming you are going to be paying this mortgage premium with the addition of extra $15,000 semi-annually starting from today January 27, 2019. Semi annually means twice in a year.

Here is the details of your amortization schedule chart:-

How Can I Pay My Mortgage Faster? - Learn How Today!How Can I Pay My Mortgage Faster? - Learn How Today!

Wow! guess what guys, for just putting $15,000 semi-annually into your mortgage as extra payment would make a huge dent that would be saving you a whooping $122,966 in interest amount and you are going to be done with mortgage payment in 11 years and 4 months instead of 25 years. I think that’s Awesome!!!

What’s your thought guys?

I know what you’re thinking right now. Where would the extra payment comes from?

Haha this is where your step 1 to 4 comes in to play a role guys. Step 1 to 4 are there to help manage and pay back your LOC as majority of the extra cash payment to your mortgage principal will be coming from your LOC.

Let’s quickly compare both scenarios and see how much we are paying in interest rate just for the five years that we are implementing the strategy

How Can I Pay My Mortgage Faster? - Learn How Today!

Some people might say that seem not much but it’s still about $14,000 in interest saving’s guys. The big thing here is the “remaining balance”, that’s where the huge saving’s would be coming from. The lesser your remaining principle balance the lesser the interest rate that would be paid to the bank.

What about the 10% interest rate from the LOC? Yes I know, we ‘re are going to be incurring some monthly debt here but before we get to that, what if we’re actually putting in $15,000 semi-annually for the entirety of the mortgage until it’s paid off?

Here is what happens:-

How Can I Pay My Mortgage Faster? - Learn How Today!

Yippee, I think we’re winning now, for putting $15,000 semi-annually into your mortgage as extra payment would make a huge dent that would be saving you a whooping sum of $131,386 in interest amount and as if that’s not enough, you are going to be done with mortgage payment in 7 years and 6 months instead of 25 years. I think this is Awesomely Awesome guys!!!

Now let’s see how much we would be paying on LOC interest

Worst case scenario, assuming we are always owing a balance of $15,000 all through the entirety of the mortgage which is now 7 years and 6 months instead of 25 years.

How Can I Pay My Mortgage Faster? - Learn How Today!


What is $125 per month for 7 years and 6 month?

That is: $11,250 in interest payment on LOC

A total of $26,250 (LOC interest + principle).

If we subtract this amount ($26,2500 from what we saved ($131,386)

WORST CASE SCENARIO – Our total saving’s for implementing the strategy comes to $105,109

Oh boy that is massive saving’s over the mortgage life and not just that, this means after 7 years and 6 months, you can do what ever you like with the extra $1,676 that you were supposed to be paying on your mortgage for the next 17 years and 6 months.

Remember this is the worst case scenario as you are going to be putting the entirety of your income into your LOC to save you on daily interest until you need to pay your monthly bills.

Remember your side hussle/passive income would be bringing in some cash that you can use to lower the LOC interest or even aggressively pay more extras to your mortgage principle.

What about the remaining $1,124 balance from your income monthly?

The list goes on and on and if you implement this strategy very well, you can cut off another 50% off the amount of LOC interest especially if you utilize my #1 recommended way to generate passive income which you can access here.

That’s it guys, the strategy is astonishing if implemented correctly.

I am always here to help so feel free to ask me any questions in case something is not clear and I will be more than happy to help you out.

Also feel free to share on your social media with friends and family that you think might benefit from utilizing this strategy as well.

Thanks for reading

Tony @wealthdowntown




POST DISCLAIMER: I am neither a financial adviser, nor – a real estate broker, a licensed mortgage broker, a certified financial planner, a licensed attorney, and not a certified public accountant. Haven said this, I want to advise you to consult with a qualified professional prior to trying any financial strategies. I understand that not everyone will experience 100% success rate by implementing this strategy as it requires dedication to keep applying this strategy over time continuously until the desired result is achieved. We at Wealth Treasury do not promise or guarantee any specific outcomes and/or results from the use of this strategy.


  1. Well for me it’s not so much the mortgage – it’s everything else that’s left to pay AFTER I’ve covered the mortgage!!! 

    I’ve tried budgeting, many times, but I think I’d like to attempt the passive income angle you have covered – if I manage to set it up correctly. This Wealthy Affiliate option – how hard is it to take on board for a newcomer?

    • Very true Chris!  Passive income is a real deal and with all the start up support that Wealthy Affiliate provides, the sky is the limit.

      Have a good one man!


  2. Hi Tony,

    It is an excellent post with all necessary information about paying mortgage faster. I believe many people will find a perfect guideline for paying their loan. I love the passive income idea and disciplined way of necessary costing. This is true that many people spend money for unnecessary things which is not hardly needed. Thus they always lost their future stable capacity which you are mentioning in this article. I am going to share it with my friends and family member. Thanks.

    • Hi Mzakapon:

      Thanks for finding the article valuable. Yes, you can definitely share with friend and family.

      Have a great day friend!


  3. This is great information, thanks so much! I appreciate all the many tips and suggestions you provided, I have it saved for future reference. The examples you provided help me understand budgeting and finance a little better. I feel a more prepared and educated regarding the issue, and can move forward. I absolutely agree with you regarding discipline; if you have goals, you have to do what it takes to get there. I’m not terrible at handling finances, but I do want to get better and enjoy financial freedom. Thanks again! 

  4. Well done, you have managed to un-complicate a very diverse subject into about as close as layman’s terms as i could imagine possible. I myself have managed to bring my target mortgage down from 25 years to an estimated 11 years. The main clue that you point to forcebly is being creative with your budget and goals, and then sticking to them.

    • That’s the point Adrian. I am happy you are already implementing the strategy and would be mortgage debt free sooner than later. Your comment is just another proof that the strategy works.

      Thanks man


  5. Financial discipline and proper budgeting are key factors that will enable one pay off  mortgage faster.Avoid spending money on things that are not necessary in order to save more.Aside from the above, it is very important to engage in passive income. This is the surest way to financial freedom.Thank you for this enlightenment.

  6. Some great tips here.

    I more interested in the passive income you mentioned.  To me it is like getting a pay rise every month /year etc.  Try getting that from your current boss lol, yeah right.  For me paying extra money to loans is not so easy as I fairly tight budget as is.  Hence why I like the passive income idea the most as it gives me an option for the future

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