Homeowners typically pay their mortgage once per month on a fixed due date, but with a slight change can take years off their mortgage. The trick is paying biweekly. If you send in a check for half of your mortgage payment every two weeks, it ends up being 13 months worth of payments by the end of the year because 52 weeks divided by 2 payments a month equals 13.
Staying disciplined on this plan can make a difference of more than 5 years in how long it takes to pay off the mortgage all together. However, before you start this, it is critical that you check with your lender and make sure that the extra you are paying is going towards paying down your principal balance. Some banks do not do this automatically, and it will not give you the same benefit of lowering the balance on your mortgage.
The other benefit from accelerating the reduction of your principal is that if you ever decide to refinance you will be in a much better position. Having paid down more of the principal, you will be refinancing a lower amount altogether and your new monthly payment could be drastically lower than your current one. Additionally, you build up more equity space that you can borrow against with a line of credit in case of a rainy day.
All of these positives come to you from making a simple adjustment in how you pay. It does not feel much different than the typical way of paying, but the difference in results can be staggering. Over time, you will be thankful you made the change to biweekly payments in more ways than one.