There's a simple trick to significantly reduce the length of your mortgage and save you thousands in interest: Make additional payments which apply toward your principal. Borrowers pay extra in a few ways. Making one additional full payment one time per year may be the simplest to keep track of. But some folks won't be able to swing this huge extra expense, so dividing a single additional payment into 12 additional monthly payments works too. Each of these options yields slightly different results, but each will significantly shorten the length of your mortgage and lower your total interest paid.
It may not be possible for you to pay down your principal every month or even every year. But remember that most mortgages allow you to make additional payments at any time. Any time you get some unexpected money, you can use this provision to pay an additional one-time payment toward mortgage principal. For example: five years after moving into your home, you get a very large tax refund, a very large legacy, or a cash gift; you could pay a portion of this money toward your mortgage loan principal, which would result in enormous savings and a shorter loan period. Unless the loan is quite large, even a few thousand dollars applied early can produce huge savings over the life of the loan.