4. On Your Anniversary (Mortgage Anniversary), make a lump sum payment
Depending on your financial institution, most lenders will let you make an extra mortgage payment once a year. This payment gets applied directly to the principal. Even $50.00 a year will make a difference in how long you have a mortgage. This is a great way to decrease your amortization period.
Take a look at this example: Pay your mortgage bi-weekly and with a one time payment of $250.00/year on a $400,000.00 mortgage at 3.5 percent over 25 years, you will actually decrease your mortgage amortization by 3.5 years. How About That!!