Give the banks less $$$

A few simple ways to pay off your mortgage sooner and keep more money in your pocket.

1. Make Payments biweekly or weekly
2. Increase your payment amount
3. Christmas bonus? Tax refund? Add them to your mortgage payments
4. Keep your credit score excellent for the best rates
5. Negotiate for the best rate possible
6. Switch your fixed interest rate to variable (unless you have an excellently low rate already)
7. Talk to your mortgage broker and financial planner about the Smith Manoeuvre (make your payments tax deductible)

The price you pay for your home is only of the equation, the other half, roughly and literally is the interest you pay on the mortgage for that home. Don.t fall into the trap of negotiating an extra 1 or 2 thousand dollars off the price of the home and paying tens of thousand or more in unnecessary mortgage payments.