Sentences with phrase «for early mortgage payoff»

Finally, another argument for early mortgage payoff is that you get a guaranteed return on your investment equal to whatever your mortgage rate is.

Not exact matches

But I'd say the higher priority should be getting money into a tax - advantaged retirement account (a 401 (k) / 403 (b) / IRA), because the tax - advantaged growth of those accounts makes their long - term return far greater than whatever you're paying on your mortgage, and they provide more benefit (tax - advantaged growth) the earlier you invest in them, so doing that now instead of paying off the house quicker is probably going to be better for you financially, even if it doesn't provide the emotional payoff.

While the arguments for early payoff are good, there are equally strong arguments suggesting you shouldn't pay off your mortgage early.

You should probably verify this with your lender because some mortgages have penalties for early payoff.