06/08/2026
Everyone loves talking about the "extra $100 a month" mortgage trick, but most people don't understand why it works.
The secret isn't the $100. It's the interest you're avoiding for the next 20-30 years.
Even small principal payments can have a surprisingly big impact because mortgage interest is front-loaded. And if you're paid biweekly, you may already have an easy way to make an extra payment each year without drastically changing your budget.
One thing to watch out for: make sure any extra payments are applied to principal only, otherwise your servicer may just treat it as an early payment.
Have you ever paid extra toward your mortgage? Did you notice a difference? ๐