The best plan for any type of mortgage is to minimize the amount of interest you pay — and lenders offer several ways to help do this:

A larger down payment means your home ultimately costs less because a smaller mortgage means less interest.
A shorter amortization, the period over which a loan is repaid.
A weekly or biweekly payment schedule, instead of monthly.
Additional lump sum payments.
You don’t have to get your mortgage from the same place you have your savings or chequing accounts. Also, at the end of each term, you may be able to change the options of your mortgage, such as the payment schedule, the term, the rate, even who holds the mortgage.