According to one survey, about 62% of Americans have a mortgage. If you don’t want to be in the majority, there are ways to make sure you can live without having to pay your mortgage every month.

Thankfully, we have the best tips for you! Keep reading to figure out how to live mortgage free.

1. Pay Everything Up Front

While not everyone can do this, some people have enough money to pay the total cost of the home upfront.

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One way to do this is to save up enough money to buy a house eventually. This only works if you don’t need a house right now, but just by saving enough overtime, you’ll be able to buy your house without having to deal with a mortgage!

2. Find Roommates

If you weren’t able to do that and have to buy a house with no mortgage, you can try and find roommates to help split the cost. More and more people are deciding to share their house, and it can be a great way to cut down on your mortgage payments.

If you don’t mind sharing your space, you can charge people rent and use that to help pay off your mortgage payments quicker.

Young couple moving in new house, drinking coffee.

How much rent you can charge will depend on how much space you’re willing to offer up and where you live. To get an idea of how much to charge, shop around in your area and get an idea of what everyone else is charging.

3. Find a Fixer-Upper

You could also find a house that’s going to be a fixer-upper. You won’t have to put that much (if any) on your mortgage. However, you will have to pay a lot in repairs and renovations, but you can do that on your own time and at your own pace.

Many people get rid of these homes because they don’t want to work on it or because the bank foreclosed their home.

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However, if you’re going to do this and make it worth no mortgage is that you have to be good at fixing things up. Or at least have the money to hire someone who does.

Depending on how rundown it is, you likely won’t be able to move in right away, so you’ll have to take that into consideration as well.

4. Put Up Biweekly Payments on Your Mortgage

If you have the money, you should try and make biweekly payments for your mortgage as well instead of just once a month. Not all mortgages offer this option, so you’ll have to check with your bank.

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You’ll have to pay more money each month for your mortgage, but if your budget allows it, you’ll be able to cut down a lot on how much interest you’ll have to pay, and it will shorten the amount of time you’ll have to pay it.

5. Rent the House Out

If you want to cut off the mortgage on your main house, you can buy houses for cash, renovate them, and then start renting them out.


You can bring in a lot of extra income as a landlord, but you will need to put in some money upfront to profit off of it later.

You could also rent out parts of your house, like a guest bedroom. If you have a mother-in-law suite, you can also rent that out or do an Airbnb for various tourists.

6. Get a Side Job

If you can’t do anything else to avoid having your mortgage, you can get a side job that will give you some extra money to help you pay off your mortgage.

There are all kinds of side jobs that you could get that will be easy and not take up as much time. You could try freelance writing, Ubering, or petsitting.

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Try and look at what you enjoy doing and try and make some money off of it. Once you have that additional income, put it all directly into paying off your mortgage.

7. Build a Home Yourself

This may seem like it would cost more money, but it’s actually not that crazy. If you have some handyman experiences and some good connections, you can also try and build your own home.

Half of the price of buying a new house is solely just for the labor of doing it, so you could save almost 50% off a mortgage and your house if you know how to do it yourself. Aside from that, it can be a nice family heirloom to pass down through the generations.

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If you’re going to build it yourself, however, you’ll also have to make sure you have the right permits and that you are following all of the basic building codes.

Even if you build it yourself, you might want to talk to a contractor to consult with them and ensure that you are building it correctly.

Learn More About How to Live Mortgage Free

These are only a few tips on how to live mortgage free, but there are many more ways you can do it.

If you can’t avoid a mortgage, try and focus on making sure your credit score is high. The higher it is, the lower the interest rate will be.

However, we know that buying a home and financing it can be stressful. Thankfully, we’re here to help you out.

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