Dave Ramsey, personal finance expert, shares six actionable strategies to pay off your mortgage early and gain financial freedom. Eliminating your mortgage ahead of schedule can save you thousands in interest, reduce stress, and free up income for retirement and investing. Extra payments can significantly impact your principal balance and help you remove private mortgage insurance faster. Making one extra payment each quarter can shave off 11 years and nearly $65,000 from your mortgage. Dividing your payment by 12 or paying bi-weekly can save you $24,000 and four years off your mortgage. Bringing lunch to work can save you $1,200 a year, helping pay off your mortgage three years early and save $28,000 in interest. Ramsey advises converting to a 15-year mortgage, increasing payments, or downsizing to reduce debt and build wealth. Avoid VA loans, utilize real estate professionals, and ensure financial readiness before purchasing a home. Consider down payments of at least 10% to save on interest and avoid PMI. Answer key questions before committing to a mortgage to ensure financial stability in homeownership.

Read more at Yahoo Finance: Dave Ramsey’s 6 Proven Strategies To Pay Off Your Mortgage Faster