In the Fairbanks Daily News-Miner, Roxie Rodgers Dinstel lists reasons not to pay off a mortgage early. Here are some questions to consider:
- Do you have credit card debt?
- Do you have an emergency fund?
- Do you have enough in retirement?
- How long do you intend to live in your house?
- How old are you?
- Do you want to be debt-free?
- Or are you comfortable with that payment?
Read the Fairbanks Daily News-Miner article: Paying off your mortgage doesn’t have to be top priority.
All these considerations aside, paying off your mortgage early can result in a savings throughout the life of your loan. A $200,000 mortgage at 4 percent paid for in 23 years instead of 30 can save you almost $40,000.
The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.
We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.
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