Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Business Finance

Insane benefit of a rarely used financial tactic – overpaying a mortgage

Portrait of the American home by Antonin Rémond.

Portrait of the American home by Antonin Rémond.

Often overlooked financial option

Homeowners in a down economy often look to meet their financial obligations and rarely is a loan taken out that homeowners expect to exceed, but the benefits of doing so are great.

Overpaying a mortgage is not exactly a magical, pleasurable event, especially in a market where every penny counts, but some homeowners are going back to an era where financial responsibility, pinching pennies and the like is realistic.

Krystal Yee at the Give Me Back My Five Bucks blog have began accelerating her own mortgage payments by paying ten percent per month and paying bi-weekly, turning her 30 year mortgage into a paid off loan in 19 years, keeping thousands of dollars of interest in her own pocket over the long haul.

Paying a 30 year loan of in 19 years:

Yee said, “My goal is to retire early, and having a mortgage 30 years from now is not going to help me. I’m not living a financially independent life if I have to rely on a bank for a mortgage. So the sooner I can become debt-free, the sooner I can think about retiring.”

Many would argue that one of the problems with modern homeownership is that Americans expect to move in three to five years, and buying a home to live in and have paid off is almost unheard of in this generation, but many homeowners are considering accelerated payments to make it happen.

Advertisement. Scroll to continue reading.

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

1 Comment

1 Comment

  1. Bryttney Cacilhas

    January 11, 2020 at 12:57 am

    The word “mortgage” literally means “death pledge”. Mortality, Mortician, Mortgage all relate to death. Thats something to think about. Great post

Leave a Reply

Your email address will not be published. Required fields are marked *


American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.





Ultra trendy design tips What’s happening in the world of art and design? D Pages knows, and they’ve just launched their blog, D Blog...

Social Media

Applying political views to business According to a recent survey of 500 Americans, more than one in three people have changed their opinion...

Tech Gadgets

A simple explanation Apple and Samsung have been in a heated legal battle for a long time and it is a complicated back and...


A common question We introduced you to the Amazon Kindle in September and noted that with the $199 price sticker, it may not be...

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.