You can save thousands of dollars by prepaying your mortgage. Use this mortgage pay off calculator to crunch your numbers. It is easy to use - just enter the numbers and click on "calculate". The calculator gives you your monthly payment, the total of all your payments when paid on schedule, the total interest paid, and the payoff date. It also breaks it down so you can compare the difference between making monthly payments and bi-weekly payments.
To compare what you are currently paying on your mortgage with the cost of prepaying, run the numbers first with what you are currently paying, and then with different amounts (double payment, for example) to compare the difference.
Read about how Tianna and BJ Homer plan to pay their 30-year mortgage off in seven years.