{"id":187780,"date":"2026-05-05T08:07:19","date_gmt":"2026-05-05T14:07:19","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=187780"},"modified":"2026-05-05T08:07:23","modified_gmt":"2026-05-05T14:07:23","slug":"8-creative-ways-to-pay-off-your-mortgage-quicker","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/8-creative-ways-to-pay-off-your-mortgage-quicker","title":{"rendered":"8 Creative Ways to Pay Off Your Mortgage Quicker"},"content":{"rendered":"

The popular train of thought amongst real estate investors is to delay paying off the mortgage on <\/span>your<\/span> personal residence in <\/span>lieu<\/span> of investing <\/span>money<\/span> in rentals to generate more <\/span>cash flow<\/span><\/a>.<\/span> However, there comes a time when debt becomes tiring, even if it is good debt, and you <\/span>just<\/span> want to be done\u2014usually around the time of retirement\u2014and your attention inevitably turns to your personal mortgage.<\/span><\/p>\n

According to<\/span> Realtor.com<\/span><\/a>, more Americans are heading into retirement carrying a mortgage as the cost-of-living crisis affects everyone\u2014even real estate investors.<\/span><\/p>\n

Ultimately, freeing up another monthly payment leaves money for other things such as healthcare and travel. It also gives you greater <\/span>equity<\/span><\/a> to serve as a safety net later in life, particularly for ongoing repairs on rentals or a personal residence.<\/span><\/p>\n

The Interest Rate Conundrum<\/span><\/h2>\n

The validity of paying off a mortgage depends on the interest rate. If you have a <\/span>sub 3%-to-4<\/span>% rate, the reasons to pay off the debt diminish.\u00a0<\/span><\/p>\n

Recent ICE Mortgage Technology showed just over 50% of borrowers currently have rates under 4%, <\/span>as reported by<\/span> CNBC<\/span><\/a>.<\/span> There comes a point, though, for many people, especially those thinking about their legacy and heirs, that the idea of being debt-free becomes more attractive.\u00a0<\/span><\/p>\n

Strategies to Pay Off Your Mortgage<\/span><\/h2>\n

Here are a few strategies to pay off the mortgage on your personal residence quickly.<\/span><\/p>\n

1. Overpay your mortgage (specifically the principal)<\/span><\/h3>\n

Let\u2019s start simple and old school: overpayment. It was the technique your parents might have used to whittle down their mortgage before fancy leverage concepts took over the investment milieu. Making an accelerated or extra payment directly to the principal chops down debt like a chainsaw inhabited by a poltergeist.\u00a0<\/span><\/p>\n

To quote Jake Vehige, president of mortgage lending at Neighbors Bank, as referenced on Realtor.com: “Due to how amortized loans <\/span>are structured<\/span>, much more of your payment goes toward the interest at the beginning of the loan. The more quickly you pay down the principal, the more of your payments go toward principal.\u201d<\/span><\/p>\n

There are many ways to go about doing this:<\/span><\/p>\n