Pay more each month
The simplest way to pay off a mortgage is to add an extra amount, say $50 or $500, to each monthly payment, Rogoszinski says. You shouldn't sacrifice necessities, such as sustenance or medical care, but putting a little more toward the mortgage can be a good financial habit.
"If you can manage your expenses in a way that an extra couple of dollars goes toward the mortgage, that's freeing up money down the road sooner rather than later," she says.
Some homeowners add enough to their payment each month to make one extra payment each year. McIntosh explains the math: Divide one payment by 12 or multiply one payment by 10 percent, and add that to the amount each month.
Make sure the extra money is applied to principal, not interest or your escrow account. Prepaying interest or padding your escrow won't accelerate your loan payoff date.