Mortgage payments take up more than a third of the typical U.S. household’s income, according to the Q2 2025 National Association of Home Builders/Wells Fargo Cost of Housing Index. For lower-income families, their monthly mortgage payment is a much higher percentage of their salary. Lowering your monthly payments can keep you from being house poor and free up cash flow for other expenses. How to lower your mortgage payment: 5 practical strategies “Your mortgage payment is typically the largest expense ...