💰 Should You Pay Off Your Mortgage Early?
Summary
AI-generatedThis video explains the 7% rule for deciding whether to pay down your mortgage early or invest extra cash. It compares potential mortgage interest savings against average market investment returns to guide your financial decisions.
Key insights
The 7% rule suggests that if your mortgage interest rate is 7% or higher, you should prioritize putting extra cash towards your loan. If the rate is below 7%, investing extra cash is likely a better option.
Mistakes to avoid
Focusing solely on paying off a low-interest mortgage early can lead to missing out on significantly higher potential returns from market investments.
Tools & resources
mortgage payoff calculatortool
A mortgage payoff calculator is available to help estimate savings from early mortgage payments.
Frequently Asked Questions
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial