To pay down your mortgage faster and save on interest, make prepayments when allowed, and keep payments steady if your interest rate drops to reduce principal faster. Increase payments if your income rises and use renewal periods for lump sum payments without penalties. Opt for bi-weekly payments, consider flexible mortgages for prepayment options, or choose straight rate mortgages for lower interest. Select a term length that balances rate stability and renegotiation opportunities.
Continue to full article
