Pay Off Your Home Faster

Own Your Home Faster and For Less

Of all the benefits to refinancing your home, paying off your mortgage in less time is the biggest. Reducing the term of your loan by refinancing can not only shave years of payments. It can save you tens of thousands of dollars in the process over the life of your loan.

Because paying off your home earlier reduces the overall amount of interest you’ll pay, it could let you to retire earlier, travel more, or put extra cash in your pocket. You’ll increase your home’s equity faster. You’ll not only own your home in less time, but you’ll pay much less to own it. Talk to one an Ark Mortgage Advisor to see how you could benefit from refinancing your home to shorten your term.

How much can I save by reducing my loan term?

Choose your rate and term and calculate your potential new monthly mortgage payment in seconds. You might be surprised at how affordable it is to own your home,,, and in a lot less time than you thought. See how much interest you’ll pay over the life of the loan, and experiment with prepayment amounts to calculate their impact on your mortgage.

Term Reduction Refinance FAQs

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.