6 Simple Ways to Reduce a Mortgage Payment
A lower mortgage payment could mean the ability to pay down other debt, build investments, and have a healthy emergency fund.
Lower Your Mortgage Payments
Give Your Mortgage a Bonus
If you get a bonus or a windfall, consider throwing some of that money at your mortgage.
There are at least two options here: “House hacking” and adding an accessory dwelling unit (ADU).
Extend the Term
This technique could lower your monthly payment but likely will cost you more in interest in the long run.
Rid of Mortgage Insurance
There are ways to eliminate these payments, depending on which type of loan you have.
Swipe up to see more ways to lower your mortgage payment.