Yes, it is possible to pay a mortgage off early. This is known as making overpayments or paying a lump sum towards the mortgage balance. Depending on the terms of your mortgage, there may be early repayment charges or penalties for paying off the mortgage early.
It’s important to check with your lender to see if they charge such fees and how they would be calculated. Additionally, making overpayments can reduce the amount of interest you pay over the life of the mortgage and help you become mortgage-free sooner.
However, it’s important to weigh the benefits against the potential penalties and to ensure that you have sufficient funds for other financial priorities before making the decision to pay off your mortgage early.