Juan Mestre
Berkshire Hathaway HomeServices EWM Realty


Five Tricks for Paying Your Mortgage in less time
On a monthly budget, a mortgage payment is frequently the largest expense. Sometimes it's simple
to come up with the money, other times it's more challenging. A few strategies can help you turn
those challenging months into easier ones.


Here are five hacks to help make paying your mortgage a little easier each month:


Get a side job

Just earning $500 extra a month — or $125 per week — can make paying a mortgage easier. To do
this, get a side job for one or two hours per day at a gig you enjoy.


Consider dog walking, house sitting, driving for Uber, delivering meals or teaching a class at your
local community center. Set each paycheck aside for your mortgage bill.


Rent out a room

There are several options for renting a room and making some money on the side. You can be a full-time, 

live-in landlord and rent out a room to a tenant by the month.

Airbnb allows users to rent rooms on their schedule — one day at a time, a weekend, week or
longer. Or rent your entire house for a few weeks while you’re away on vacation.


Rent or sell your stuff

From your car, bike, surfboard and other gear, you can make some extra money by renting out your
stuff when it’s idle.
If you want to get rid of something you’re not using, then sell your unused books, bike, clothes,
furniture and tools, among many other things, on sites such as eBay, Craigslist, Amazon and used
book websites.


Use a work bonus or tax refund

A bonus at work or a tax refund can seem like found money, and it’s easy to spend it on a splurge
such as a vacation.

Another use it to put it toward your mortgage for a month, saving you a payment and giving you a
month of relaxing by not having to pull money from your regular budget to make a house payment.
It can free up your other funds to invest or put aside in an emergency fund for a rainy day.


Pay down the principal

The above tips are meant to help you come up with some extra money so that your monthly
mortgage payment is easier. While that can be good in the short term, you can also use the extra
money to reach the long-term goal of paying off your home loan earlier. If your loan doesn’t have a
penalty for prepayment, then add to what you pay each month to your mortgage bill and be sure to
specify that the extra amount goes toward the principal.
It will help you pay off your mortgage faster and will save you thousands of dollars in interest over
the life of the loan.



Like this update? As your local real estate professional, I can provide more great tips like this and
answer any real estate information questions you may have. Contact me today!


JUAN MESTRE
REALTOR ASSOCIATE

RAISING THE BAR FOR REAL ESTATE SERVICES

CONSIDER: Since I'm not a lawyer but your neighbor's Realtor Associate, you should consult an
attorney and your CPA before making any decisions.

If you wish to find your Home or to start your journey towards Home Ownership,
Let’s start working together reach me at 305-776-5677 or register at www.juanmestre.com or email
mestre.j@ewm.com.

Sourced and digested from several locations including but not limited to:
RisMedia for BHHS.com/blog, EWM Realty & my knowledge