How to Lower Your Monthly Mortgage Payment

Refinancing, canceling mortgage insurance, forbearance and loan modification are ways to lower your monthly mortgage payment if it feels unaffordable.
Hal M. Bundrick, CFP®
By Hal M. Bundrick, CFP® 
Edited by Amanda Derengowski
lower your mortgage payment

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Money is tight, and you’re looking for expenses to cut. Your mortgage payment is the biggest bite out of your paycheck, so that seems like a logical place to start.

Here are some options that may help you lower your monthly mortgage payment and important considerations about each one.

How to lower your mortgage payments