How do you pay off your mortgage loan faster?

Answer 1

You could start making payments on a bi-weekly schedule which would greatly reduce interest and cut the loan life down dramatically.

OR

You could refinance into a lower rate, creating a lower payment, and continue to pay your current monthly amount thus paying down the principal.

OR

You could refinance into a shorter term mortgage (10yr or 15yr fixed for example) assuming the lower rates will help offset the increase in payment.

It really comes down to weighing out the options and choosing based on your specific scenario.