How to Pay Your Mortgage off Early -- and Save Thousands of Dollars -- 
By Making Extra Payments Each Month on Your Mortgage Loan
Mortgage Acceleration. Mortgage Payoff Calculators. Accelerate Your Mortgage. Save Interest on Your Mortgage.

Bi-Weekly Mortgage Mortgage Acceleration

The bi-weekly mortgage payment plan is just one of the ways you can choose to payoff your mortgage earlier. What this method has in its favor is that you don't 'feel the pain' of making extra payments. By paying every two weeks, in addition to making early payments which favorably affects your principal, you are actually gaining a 13th four week period every year, and thus making a whole extra mortgage payment every year -- virtually PAINLESSLY. There is much to be said for the Bi-Weekly Mortgage Payment Plan. Using the calculators on this page, and linked to on this page, you can easiliy make a comparison and see which method suits you best.

An interesting article at MortgageCalculator.org says "... How the homeowner makes their mortgage payments can save a lot of money over the life of the loan. Tens of thousands of dollars can be saved by making bi-weekly mortgage payments and enables the homeowner to pay off the mortgage almost eight years early with a savings of 23% of 30% of total interest costs. With the bi-weekly mortgage plan each year, one additional mortgage payment is made. That extra payment goes toward the principal of the loan. Since the homeowner is reducing the amount of the loan balance quicker, they are also reducing the amount of interest charged over the life of the loan...." CLICK HERE to read the rest of this interesting 'how to' article.

NOTE: Regardsless of which method of mortgage prepayment or acceleration you use, make sure, by reading your mortgage documents carefully (or having your attorney do so) that there is no pre-payment penalty clause in it, which could negate any benefits you might otherwise obtain.

Here are some links to Bi-Weekly Mortgage Calculators

Take a look at these calculators... play with them... and be amazed at what you'll learn about saving money by just slightly changing your paying habits.

VLender.com's Bi-Weekly Mortgage Calculator shows how paying this way can knock EIGHT YEARS off the average 30 year loan...

Mortgage-X.com's Bi-Weekly Mortgage Calculator

Some mortgage calculators to help you calculate your long term savings when you pay extra each month on your mortgage

MortgageLoan.com's mortgage payoff calculator "... will help you to calculate the amount of interest that you will save by paying your mortgage off early. This may be achieved by increasing the monthly mortgage payment that you make so that the extra money is directly deducted form your mortgage principal balance. This calculator will create an amortization schedule based on increasing your monthly mortgage payments in order to payoff your mortgage early... Most mortgage lenders allow borrowers to prepay on the principal balance of their mortgage without a prepayment penalty. Paying off the mortgage balance early shortens the period of time that the mortgage is in place. Paying off your mortgage early also decreases the total amount of interest that you will pay on the mortgage. Paying off your mortgage early can potentially save you thousands of dollars... "

Early Mortgage Loan Payoff Calculator "... This calculator will show you the additional monthly payment you will need to make on your current mortgage in order to pay if off within a specified number of years. It will also show you how much interest you will save if you make the calculated additional payment each month, from now until your mortgage is paid off...."

Best Places to Get Low Cost Mortgages and Real Estate Loans

If you are looking for ways to put cash in your pocket to pay off your debts, then you might want to shop around for the best refinanced mortgage deal. Once you've secured your mortgage, you can start accelerating payment on THAT new mortgage by using the techniques described above.

Why pay exhorbitant interest rates on high credit card balances. Why not use the equity in your home to pay off your high interest credit card debt... then ACCELERATE payment on that loan by taking the money you've saved on your credit card payments and paying extra each month on the principle of your new home loan. Not only could you wind up with a much better deal on your mortgage, but your credit rating could improve substantially in the process.

Refinance up to 97% with a Government Backed Secure FHA Loan "... You can refinance up to 97% of your home value. FHA even offers up to 95% cash-out, the highest amount of any our home loans! This amount is changing soon. Take advantage of this high cash-out amount before it goes down when FHA guidelines change. Our mortgage application and processing uses exclusive technology that cuts the headaches out of getting an FHA loan. We even offer online document signing!..."