How to pay off my house quickly

Let's take a look at how to pay off your home loan quickly. What can you do?

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Pay off the principal.

Increase your monthly payments. Paying 10-50% more than the bank's recommended payment amount can cut your mortgage payment period by up to half.

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Refinance or Retention

Banks usually offer low interest rates for the first three years.
After that, interest rates increase. Therefore, you should apply for a loan with another bank to lower your interest rate or request a reduction in your current bank's interest rate.

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Pay your debts on time.

Save on interest and maintain your credit. Banks will also look at your payment history when refinancing or retaining your loan.

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Article source: Thinkofliving: http://bit.ly/3JMBfot