But reducing the interest cost of your mortgage should be one of the top priorities a home owner has as part of their personal finance strategy. (triageinvestingblog.com)
In addition, unlike a home equity loan with a fixed term, you can pay the loan off as quickly as you have cash available, which also reduces your interest costs. (bankruptcy-alternatives-information.com)
For example, on a 15 - year loan of $ 300,000 at 5 percent interest, adding $ 200 to each monthly payment reduces the interest costs substantially. (mortgagecalculator.biz)