In part one of this two-part blog, we went over some of the factors you should consider if you’re thinking about attempting to pay down your mortgage early. This isn’t always the prudent financial move, even if it seems like a net positive in most cases where it’s possible, but there are plenty of situations where it can be a big benefit to your finances.
At Altius Mortgage and our partners at Mortgage Ogden, we can help you understand the various options at your disposal here. While refinancing your mortgage might be the simplest way, and we’ll list some choices you might have available here, there are also several other approaches you might be able to take. Here’s a look at various tactics for paying a mortgage down early if you’ve decided this is the right move.
Firstly, there are several refinancing situations that might be possible to help you pay your mortgage off early:
There are several situations where you might have increased income or a windfall that can help here:
A few other approaches you might be able to take here:
For more on how to pay down mortgages early and whether this is the right move for you, or to learn about any of our mortgage loan services, speak to the staff at Altius Mortgage and our partners at Mortgage Ogden today.