Although interest rates are on the rise, it's still a great time to purchase a home. Speak with one of our expert loan officers today!

How can I pay off my mortgage earlier than expected?

There are also small, strategic ways you can chip away at your loan, such as rounding up your payment each month or ditching those daily coffee runs and adding $25 or $50 to your monthly payments. You can also pay a lump sum or refinance the length of your mortgage terms. Conventional and government loans don’t have pre-payment penalties, so you don’t have to worry about paying extra, but you might find pre-payment penalties with non-conforming/portfolio-type loans. It’s best to check with your mortgage servicer to be sure.

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