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How Do I Pay Off My Mortgage Early?

From adding a little extra to your principal payment every month to refinancing your loan to a shorter term, here are some ways you can pay off your mortgage early:

Budget Easy Pay

Split your monthly amount due into smaller, more frequent payments. There is no set-up fee.

Learn More about splitting your monthly payments

One-Time Payments

Make an additional payment to principal anytime by signing in to our mobile app* or online banking. Select your mortgage and click Make a Payment.

Sign In to online banking


Refinance your mortgage to a shorter term. For example, if you have a 30-year loan, refinance to a 15-year term.

Learn More about refinancing your mortgage

Frequently Asked Questions

How do Budget Easy Pay (bi-weekly) payments differ from a regular payment?

With bi-weekly payments, you'll split your monthly payment into bi-weekly half-payments due on the weekday of your choosing. After we receive the second half-payment, we'll apply the full amount collected to your monthly mortgage balance due. With this plan, you'll have 26 half-payments during the year. Two of those payments will be applied toward your loan's principal, which will help you pay off your loan faster and save on interest. 


What is a recurring extra payment?

A recurring extra payment is when you pay extra toward the principal on your mortgage every month. Paying extra toward your principal can be a great way to shorten the length of your loan and help you save on interest. 


What is a principal-only payment?

A principal-only payment is an extra one-time payment applied directly to your mortgage loan principal amount. If you choose to make a principal-only payment, you could save on interest and pay off your mortgage early.


More About Mortgages

Find the Best Mortgage for You

Our great mortgage rates will bring you home. We've got options for military members, first-time homebuyers or those looking to refinance.

Learn more about the mortgages available from Navy Federal

Make Sense of Home Buying

Get clear, step-by-step information on the home-buying process, from understanding mortgages to homeowner essentials.

Learn more about the home-buying process

Mortgage Calculators

From estimating closing costs to deciding how much home you could afford, our calculators can help you make decisions about your mortgage.

Learn more with our mortgage calculators


This content is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.