Pay Off Your Home Faster

Own Your Home Faster and For Less

Wouldn’t you rather own your home in 15 or 20 years instead of the typical 30? There are many benefits to refinancing your home but paying your mortgage in less time is probably one of the savviest financial decisions you can make. Reducing the length of the loan by refinancing can not only shave years of payments off your mortgage, allowing you to become financially independent, but you can save you tens of thousands of dollars in the process!

Paying off your home earlier might allow you to retire earlier, travel more, and even have extra cash to invest because it will reduce the overall amount of interest you’ll pay over the life of your loan. You’ll increase your home’s equity even faster. You’ll not only own your home in less time, but you’ll pay much less to own it. Talk to one of our highly-trained Personal Mortgage Advisors today to see how you could benefit from refinancing your home to shorten your term.

Term Reduction Refinance FAQs

How much can I save by reducing my loan term?

Calculate your potential new monthly mortgage payment in seconds with this handy calculator, so you can make sure you have enough money left over each month for all your other expenses. Choose your rate and term—you might be surprised to see how affordable it is to own your home in less time than you thought. See how much interest you’ll pay over the life of the loan, and enter prepayment amounts to calculate their impact on your mortgage.

The Path to Financial Freedom

Save Thousands

Switch from a 30 to 15-year term can save you well over $100,000 in interest on a $300,000 mortgage.

Retire Faster

Pay off your mortgage faster and you can eliminate the monthly payments and start enjoying financial independence.

Increase Net Worth

Paying your mortgage is like a forced saving and speeding up your mortgage payments increases your net worth faster.

Improved Credit

Reducing your the principal on your mortgage faster can improve your credit score by improving your debt to income ratio.

More Liquidity

Paying off your mortgage faster improves cash flow and reduces stress so you can enjoy your life more.