Don’t under estimate the benefit of paying extra on your mortgage payment.  Most Americans are in a thirty year term to accommodate a more comfortable house payment.  If you can make one extra payment a year you can roughly reduce eight years worth of mortgage payments.  You can simply send in one extra payment a year and request it be applied to the principal.  You can make an extra quarter of a payment every four months.  Or you can add additional principal to your payment every month by simply adding 1/12th of your principal & interest portion of your payment.

There’s obviously a lot of interest on a thirty year mortgage and most of it is paid in the first half of the loan term.  Making additional principal payments will help build your equity much, much faster!