7. You Pick The Longest Payment Period Possible

Picking the longest payment period might seem like it puts the least amount of pressure on you each month, but in the end you’ll end up overpaying way more than you have to. For instance, every additional year will add on to your interest rate!

Review your income and expenses, and pick the right payment scheme according to that. Also make sure to review the terms of your contract to allow for reduced interest or flexible income. You won’t have the same job forever, so you might be able to pay your mortgage off earlier than expected.