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Sandra Ellington

NMLS ID 917291

305-788-3730 sellington@tcmtge.com

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Blog Image: Why NOT to Pay Off Your Mortgage Early

Why NOT to Pay Off Your Mortgage Early

Your mortgage payment is likely the biggest one you make each month. The thought of getting rid of that payment sooner and saving on some of the interest payments can be very attractive. However, there are plenty of trade-offs when you start diverting much of your disposable income toward extra mortgage payments. Here are several reasons why it may not be in your best interest to pay off your mortgage early. Lost Investment Income In order to pay off a mortgage earlier than the traditional 30- or 15-year terms, you will have to devote a significant part of your monthly income on the paym...

January 29th, 2020 | Mortgage, Why NOT to Pay Off Your Mortgage Early