Personally, I would suggest making your monthly mortgage payments every 2 weeks. This technique allows you to make one painless extra payment per year.
Secondly, I would advise making some sort of additional payment on the anniversary of your mortgage each year. Most mortgages allow for up to 10% to be paid off per year as a lump sum. A $1000 lump sum payment goes directly against principle owing and if possible is a great savings technique.
Here's a great pay off calculator that shows your the effects of making bigger payments: http://bit.ly/aeco8r
For more information on this or any other question you may have about your home, contact me today. I am here to help you!
Angela Slager @ 519-532-6132