- 1). Determine how much money you want to add to your mortgage payment. An online mortgage calculator with amortization will show you the effects of additional monthly, annual or one-time payments. Mortgage calculators at websites such as from Bankrate.com are usually free to use.
- 2). Find the box on your mortgage payment statement for additional principal payments. Your mortgage statement should have places to enter in additional payments for principal or escrow. Extra principal payments will pay down your mortgage faster.
- 3). Write the amount of the extra principal payment in the box and add that amount to your regular mortgage payment. Put the total amount in the box for total amount paid.
- 4). Write a check for the calculated amount and send it to your mortgage company with your mortgage payment coupon.
- 5). Verify the additional payment actually went to reduce your mortgage principal. If you receive monthly mortgage statements, check the next statement for the last payment disbursement. If you have a coupon book, call your mortgage company or check your mortgage balance using the mortgage company's online system.
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