Paying the minimum for 30 years

Paying the minimum for 30 years. F tier. You pay for that house twice and most people never realize it because nobody ever shows them the other options. Throwing your raises and bonuses at the principal. C tier. It works every time you do it. It's C tier because it depends on you remembering and most people spend the raise instead. Buying your rate down at closing. B tier. You pay it once upfront and every payment after that carries less interest. Just know it only pays off if you stay in that house long enough to get your money back. Dropping mortgage insurance and keeping your payment the same. B tier. The day that charge comes off, you're already used to paying it. So send the difference at the principal instead of spending it. Free money you were already living without. Refinancing into a 15 year loan. A tier. Shorter term, usually a better rate, and a huge amount of interest just disappears. It's not S tier because the payment goes up and you have to qualify for it. Running your income through a first lien HELOC. This one's S tier. Your paycheck sits against the balance instead of in a checking account. So it's knocking interest down every single day it's in there. Follow me for more mortgage tips and home-buying strategies.