The phrase "mortgage payoff" refers to completing the full payment of your mortgage loan, meaning you have paid off the entire amount you borrowed to buy a home or property. Full definition
Use this early mortgage payoff calculator to find out how much interest you can save making extra payments towards your monthly mortgage. (interest.com)
Finally, another argument for early mortgage payoff is that you get a guaranteed return on your investment equal to whatever your mortgage rate is. (discoverdebtfreedom.com)
Unlike term life insurance, which can be purchased for covering a specific financial obligation such as mortgage payoff, permanent coverage is designed to last for the lifetime of the insured. (lifeinsurancebyjeff.com)