The 30-year fixed rate mortgage remains the common choice of a vast majority of people in the country.
The reason is obvious, as it is the most affordable loan in terms of monthly payments available on the market today.
The problem with a 30-year mortgage, however, is that while the monthly payments are lower, you end up paying a lot more in interest over the course of the loan.
Also, you build equity at a much slower pace since the loan stretches over a long period of time.
By paying off your 30-year mortgage in 15 years or even earlier you can save thousands of dollars. Here’s a look at strategies that you can use to pay down your 30-year mortgage in 15 years or even earlier.
