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re: When does it make sense, mathematically, to accelerate mortgage payments?
Posted on 12/13/23 at 8:02 am to rpg37
Posted on 12/13/23 at 8:02 am to rpg37
The biggest fallacy of this in my opinion is how rarely does one stay in the same house for the 30 years of the mortgage? I designed and built my “forever” house and am on my 3rd since. Paid off my first in 13 years and haven’t had a mortgage since then.
Thats the key, do you build equity faster by accelerating the payments is the real question for most.
Thats the key, do you build equity faster by accelerating the payments is the real question for most.
1
Posted on 12/13/23 at 11:59 am to llfshoals
quote:I mean, by definition, you build equity in the home faster if you accelerate the amortization.
Thats the key, do you build equity faster by accelerating the payments is the real question for most.
The relevant question is do you build overall net worth faster by doing such? (i.e. what is the opportunity cost of doing such?)
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