The Mortgage Paydown Strategy You Haven’t Tried Yet

When it comes to mortgages, most people focus on one goal: getting the lowest rate. And don’t get me wrong — that’s important. But here’s something I always tell my clients:

The real savings come from how you manage your mortgage, not just what rate you get.

There are smart, easy strategies you can use to shave years off your mortgage — without tightening your budget or sacrificing your lifestyle. Let’s go over a few of my favourites.

1. Switch to Accelerated Payments — Small Change, Big Results

One of the simplest ways to pay down your mortgage faster is by switching to accelerated bi-weekly payments.

Here’s how it works: instead of making 12 monthly payments a year, you make 26 half-payments — which equals one extra full payment annually.

That one small change can save you tens of thousands in interest and take years off your amortization, all without you really feeling the difference.

It’s one of the first things I suggest to clients who want to get ahead without overcommitting financially.

2. Use Prepayment Privileges Strategically

Most mortgages allow you to make extra payments toward your principal each year — typically between 10% and 20% of your original balance.

But here’s what many homeowners don’t realize: You don’t need to use your full allowance at once to see results.

Even small top-ups — like $50 or $100 a month — directly reduce your principal, meaning you pay less interest on every future payment.

Or, if you get a bonus, tax refund, or commission payout, consider putting a portion toward your mortgage. It’s like giving your future self a raise.

When I review your mortgage, I’ll show you exactly how much flexibility your lender gives you for prepayments — and how to take advantage of it without penalty.

3. Round Up Your Payments

This is one of the easiest (and most underrated) tricks out there.

If your mortgage payment is $1,232, round it up to $1,300.That extra $68 goes straight toward your principal each month.

It’s not a huge jump in your budget, but it adds up over time — helping you pay off your mortgage faster while still keeping payments manageable.

I often recommend this to clients who want to start small but build long-term habits that save big.

4. Refinance to Reinvest in Your Mortgage

If rates have improved since you took out your mortgage, refinancing can sometimes make sense — even if you’re mid-term.

By refinancing into a lower rate, you can save money on interest and reapply some of those savings directly toward your principal. In some cases, it even makes sense to use a home equity line of credit (HELOC) to cover penalties, rather than dipping into cash.

It’s all about comparing the math. When I do a refinance review, I’ll calculate the exact breakeven point so you can see if the savings outweigh the costs.

5. Think Long-Term — and Keep Flexibility

The key to paying down your mortgage faster is balance.

Yes, we want to save interest and shorten your term — but we also want to make sure you still have access to funds if life changes.

That’s why I always help clients find a flexible mortgage structure that allows prepayments, portability, and the ability to adjust payment schedules when needed.

Paying off your home faster should never come at the expense of your peace of mind.

Final Thoughts

You don’t need to win the lottery or make giant lump-sum payments to get ahead on your mortgage. With small, intentional moves — like rounding up payments or using prepayment privileges — you can save years and thousands of dollars in interest.

If you’d like me to run the numbers on your mortgage and show how much time and money you could save with a few tweaks, reach out to me anytime.

A few small changes today could mean a mortgage-free future sooner than you think.