Don't pay off your 30 year mortgage! #shorts
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Summary
AI-generatedAccording to Sean Pan, you shouldn't be so quick to pay off a 30-year mortgage, particularly one with a low-interest rate. The cash used to pay it off today would be better spent on investments that generate more than the cost of the loan. In addition, any cash used on the home is "stuck" unless you refinance or open a line of credit.
Key insights
Cash today is more valuable than cash tomorrow.
Mistakes to avoid
Don't pay off your mortgage without looking at the details.
Tools & resources
Bankrate mortgage amortization calculatorwebsite
Site to calculate mortgage amortization.
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial