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re: Best way to payoff mortgage early?
Posted on 2/9/17 at 9:23 pm to cstev12
Posted on 2/9/17 at 9:23 pm to cstev12
Or you could invest the money you'd like to pay if off with now.
Keep in mind that with the Tax benefits of interest, your effective rate is closer to 3%
If you can beat 3% investing, invest now
Keep in mind that with the Tax benefits of interest, your effective rate is closer to 3%
If you can beat 3% investing, invest now
2
Posted on 2/9/17 at 9:28 pm to Croacka
Right, I was saying instead of putting, let's say $500 a month directly to the principle I'd put it in a mutual fund for next 6-10 years. Once that account reached remaining principle I'd pay off mortgage then start investing the $500 + Old Mortgage payment into another mutual fund (Or something similar).
I'm not very keen on investing so I'm sure there's plenty of holes to punch in this plan.
I'm not very keen on investing so I'm sure there's plenty of holes to punch in this plan.
Posted on 2/12/17 at 12:10 pm to Croacka
quote:
Keep in mind that with the Tax benefits of interest, your effective rate is closer to 3%
Is that a fact?
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