1. You’re tired of paying interest to a lender
Lenders earn money by collecting interest on loans. That means the longer it takes to pay off your home loan, the greater the profit your lender will realize.
If you bought a home using a 30-year, fixed-rate loan, consider trying to pay off the loan in 15 years instead. You’ll probably need to make short-term financial sacrifices to come up with the extra cash, but you’ll save many thousands of dollars in interest costs if you do.