- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Best way to payoff mortgage early?
Posted on 2/9/17 at 9:14 pm
Posted on 2/9/17 at 9:14 pm
Currently, 5 years into a 30 year fixed at 3.875%. Would it be best to invest $X per month into a decent mutual fund for the next 6-10 years and then use that to pay off the mortgage or would it be best to put the same $X towards principle every month?
10
Posted on 2/9/17 at 9:16 pm to cstev12
At 3.875, I wouldn't pay it off any faster than they forced me to
Posted on 2/9/17 at 9:25 pm to cstev12
I agree with Croacka
stash that cash away in a saving account, emergency fund, some blue chip stocks, etc.
stash that cash away in a saving account, emergency fund, some blue chip stocks, etc.
Posted on 2/9/17 at 9:49 pm to cstev12
Can't. Borrow money at 3.8% 15 years from now most likely
Posted on 2/9/17 at 11:25 pm to cstev12
quote:
Best way to payoff mortgage early?
Attack the principal
Posted on 2/10/17 at 1:02 pm to cstev12
quote:Make weekly payments
Best way to payoff mortgage early?
Posted on 2/10/17 at 2:08 pm to cstev12
quote:
Would it be best to invest $X per month into a decent mutual fund for the next 6-10 years and then use that to pay off the mortgage or would it be best to put the same $X towards principle every month?
Assuming I have to choose from these two options, A is clearly better than B because it preserves liquidity in the meantime. Remember that there is no benefit in paying your mortgage down, only in paying it off.
That being said, I agree with everyone else saying what's the rush?
Posted on 2/12/17 at 11:30 am to cstev12
Get a 15 year instead of 30.
Posted on 2/12/17 at 6:53 pm to cstev12
quote:
Best way to payoff mortgage early
Click the "Banks hate it when you do this" link
Posted on 2/13/17 at 6:29 am to cstev12
quote:
Currently, 5 years into a 30 year fixed at 3.875%.
I've seen it said here already, but everything I have read says it is better to invest whatever you would be putting in to pay off early.
At the end of the 30yrs the compound interest you make on that extra money far exceeds the 3.875% you are currently paying.
Posted on 2/13/17 at 10:26 am to cstev12
For me I want that mortgage out of there no matter how good the interest rate is. It is a guaranteed return to not pay others interest. Don't fall into the prediction that some investments have beaten my mortgage rate and therefore going forward it will be the same. Also, what if you lose your job? It is absolutely freeing to buy a reasonable house in a good area and pay it off and stay there a long time.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News