Additional One-time payment
It may not be possible for you to pay extra every month or even every year. But it's important to note that most mortgage contracts will allow additional payments at any time. Whenever you come into unexpected money, consider using this provision to make a one-time additional payment on principal.
For example: five years after moving into your home, you get a very large tax refund,a large legacy, or a non-taxable cash gift; , investing several thousand dollars into your home's principal can significantly shorten the period of your loan and save enormously on mortgage interest over the duration of the mortgage loan. Unless the mortgage loan is very large, even a few thousand dollars applied early can produce huge benefits over the duration of the loan.