Personal Finance (Not Investing) • First Post - How to pay off low interest mortgage?

What are all the considerations that need to be made to reach a decision on how to approach?

One big consideration is if you can completely pay it off or if you are considering doing something like paying a bit extra each month.

When you can get a higher interest rate(after taxes) it makes not sense to do ealy extra payments since you can always pay it down later if you want to.

Until you have enough saved up to completely pay it of there is really no decision.

If anything, I would think it was the opposite. If you enough to completely pay it off and can earn more on that in a risk free account than you are paying in interest it makes no sense to pay it down - if you are determining whether to make more payments when you don't have enough to pay it down it might still make sense because you are reducing your future payment risk by reducing your leverage.

Statistics: Posted by JBTX — Thu Aug 22, 2024 9:35 pm — Replies 10 — Views 372