Want to Pay Off Your Mortgage Sooner?

by Mark Johnson

Want to Achieve Mortgage Freedom Sooner? Here’s How You Can Pay Off Your Mortgage Faster and Save on Interest!

Here’s How to Save Big on Interest and Gain Financial Freedom

If you’re a homeowner in Hudson, WI, and dream of living mortgage-free, you’re not alone. Whether you’re planning for early retirement, want to cut down monthly expenses, or simply build equity faster, paying off your mortgage early can be a smart move.

The good news? You don’t have to make huge sacrifices. With a few practical strategies, you can reduce your loan balance faster—and save thousands in interest along the way.

Let’s dive in.

Make Extra Payments (Even Small Ones)

One of the most effective ways to speed up your mortgage payoff is to make extra payments toward the principal.

Even small amounts can make a big impact over time:

Add $50–$100 to your monthly payment
Make one extra payment each year
Apply any “found money” (more on that below)

For example, if your monthly payment is $1,300, rounding it up to $1,400 could help you pay off your loan years earlier—and save thousands in interest.

Switch to Biweekly Payments

Instead of making one full mortgage payment per month, consider splitting it in half and paying every two weeks. This method results in 13 full payments per year instead of 12.

Why it works:

That “extra” payment goes directly to your principal
You reduce the overall interest paid
You’ll pay off your loan faster without feeling a big difference in monthly budgeting

Just check with your lender first to make sure biweekly payments are supported, or ask about how to set them up.

Round Up Your Mortgage Payments

Another low-effort, high-reward strategy: round up your payments.

Examples:

If your payment is $1,150 → Round up to $1,200
If it’s $1,325 → Make it $1,400

It’s a small adjustment you’ll barely notice, but that extra amount chips away at your principal—month after month.

Apply Unexpected Income

Got a bonus at work? Tax refund? Birthday or holiday money?

Instead of spending it, consider applying that windfall to your mortgage. These lump-sum payments can make a huge dent in your loan balance.

Some great times to do this:

After tax season
Following a holiday gift or inheritance
After a successful sale of a vehicle or other asset

Many of my clients in Hudson WI real estate use this approach regularly—and it adds up quickly.

Refinance to a Shorter Term

If your financial situation has improved or rates have dropped since you bought your home, refinancing might be worth a look.

Benefits of a 15-year mortgage:

Lower interest rates
Faster path to mortgage freedom
Major interest savings over the life of the loan

Downside? Monthly payments will be higher—but if your budget can handle it, the savings are substantial.

Want help connecting with trusted lenders in Hudson or the Twin Cities? Just reach out—we work with some of the best.

Cut Expenses and Reallocate the Savings

You don’t need to make drastic lifestyle changes—just a few smart ones.

Simple ways to free up cash:

Cook at home instead of dining out
Cancel unused streaming or subscription services
Switch to a lower-cost phone or internet plan
Shop smarter for everyday items

Take those savings and apply them to your mortgage each month. You'll be surprised how quickly those small choices add up.

Stay Consistent and Track Your Progress

No matter which strategy (or mix of strategies) you use, the key is to stick with it.

Tips for staying on track:

Set up automatic payments
Track your mortgage balance monthly
Celebrate small milestones (like hitting 75% paid off!)

Remember, this isn’t just about paying off a loan—it’s about achieving financial freedom.

Thinking About Your Next Move?

Whether you’re working toward mortgage freedom or thinking about moving to Hudson, we’re here to help. At The Johnson Group, we live and work in this community—and we love helping people navigate their next chapter.

From smart mortgage strategies to finding the perfect home or investment opportunity in Hudson, WI real estate or the Twin Cities area, we've got you covered.