Okay, you have purchased your home and you are now making your monthly payment.  For the first few years of your loan, most of your payment is applied to interest and a smaller amount is applied to your loan balance.

You can save thousands of dollars in interest by making one extra mortgage payment every year and there is an easy, painless way to do just that.

Take your monthly principal and interest payment and multiply that number by 13.  Then divide that total by 12 to get your new monthly payment.  This will result in savings to you, reduce your principal mortgage balance faster and increase your ultimate net worth!