Homeowners are increasingly exploring the benefits of making extra mortgage payments to reduce their long-term debt. For instance, a couple considering paying off their entire $483,000 mortgage ...

Making extra mortgage payments — and applying them to the principal — reduces your principal balance little by little, so you end up saving money and owing less interest over the life of the loan. And ...

A mortgage accelerator shortens your loan term by reducing principal sooner, which lowers interest costs. “That said, for mortgage accelerator programs to work for you, you must have disposable income ...

Recasting lowers your monthly payment, but it doesn't shorten your mortgage or maximize interest savings. Making an extra principal payment won't lower your monthly payment but can reduce the total ...

One of the most challenging aspects of starting the homebuying process is figuring out how much you can afford. With CNBC Select's mortgage payment calculator, you can see how various factors will ...

Normally when someone has a low mortgage rate, they don’t refinance into a higher one ...

Mortgage Research Center. Rates averaged 5.28% for a 15-year financed mortgage and 6.06% for a 20-year financed mortgage.

Paying your mortgage on time is good for your financial health in many different ways, including helping you build equity in your home and improving your credit score. Here’s an overview of the ...