Reply to If you were to inherit $2 million, would you pay off the remaining $150k of your very low interest mortgage?

Forum Index » Money and Finances

Reply to "If you were to inherit $2 million, would you pay off the remaining $150k of your very low interest mortgage?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you are down to 150K it is nearly all principal anyhow.

My mortgage I actually got a low rate in 2017 as put a lot down and had good credit so did not refinance.

Already in 2025 just 8 years later you see each month Principal becoming a larger and larger part of each monthly payment meaning the low interest rate is worth less and less each month.

Right now banks still have CDs higher my interest rate. But if interest rates fall again I might as well just pay it off at some point.

My mortgage is at 3.6 percent.   [/quote]

That's not a low mortgage.  I would pay off the balance so then you can invest after its paid off.[/quote]

Pay it down and recast.[/quote]

It is a Freddie loan and they dont do recasting. I rather just pay off mortgage then take monthly payment amount and put it into stocks each month and dollar cost average in. Or just make a lump sum towards principal to speed up final pay off. I did 140K towards it in 2021 that pulled my 2047 mortgage pay off to a 2037 mortgage pay off. If CD rates fall again I will just as they roll over knock down the mortgage bit by bit.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics