Each of the following payment plans assumes that the original amount loaned on a mortgage was $80,000 and that there are no prepayment penalties. In most examples listed, the final monthly payment is less than the regular monthly payment.

- Make two principal payments each month instead of just one. To each month’s installment, add the principal portion of the payment whose payment number is twice the current payment number on the amortization schedule. For example, add the principal of payment number 2 to payment number 1, the principal of payment 4 to payment 2, and so on. You will pay off your loan in 15 years instead of 30. If your initial loan is for $80,000, you will save about $86,201 in interest.
- Make two principal payments each month until payment number 45 in your schedule. After that add $75 of additional principal to each payment until you pay off your mortgage. This lets you retire your loan in 20 years and 4 months. You will save $64,564 on the same loan of $80,000.
- Make two principal payments each month until payment number 63. Then pay $100 additional principal each month. You will pay off your loan in 19 years and 2 months and save $70,678.
- Make two principal payments each month until payment number 104. Then add about $200 additional principal to each payment until payoff. Your mortgage will be paid in 16 years and 11 months, at a saving of about $81,169.
- Pay $10 additional principal each month the first year, $20 the second year, $30 the third year, and so on until payment number 108. The pay an extra $100 principal with each payment. You will finish your payments in 20 years and 9 months and will save approximately $58,750.
- Add $10 principal each month for the first year, $20 the second year, $30 the third year, and so on until payoff. You’ll pay off your mortgage in 19 years and 9 months and save about $62,000.
- Pay $15 extra in your principle each month for the first year, $30 the second year, $45 the third year, and so on until payoff. Your loan will be paid in 17 years, 9 months and you’ll spend $74,156 less on interest.
- Add $20 of principal to each payment the first year, $40 the second year, $75 the third year, and so on until payoff, which will come in 16 years and 3 months. You’ll save about $82,774.
- Pay $25 extra principal each month the first year, $50 the second year, $75 the third year, and so on until payoff. You’ll pay for your house in 15 years and 1 month and save about $89,340.