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Financing Your Home >Home Free
Conventional wisdom says, "Don't pay off your mortgage early." Are you foolish to consider an early payoff? Absolutely not! By adding just $50 to $100 to your mortgage payment every month, you can save thousands of dollars in interest, pay off your loan quicker, and eliminate a major monthly expense.
The argument usually given against paying off a mortgage early is that you can make investments with your extra cash, such as mutual funds, stocks or bonds, which pay higher returns. This approach enables you to take the mortgage interest deduction and have easy access to your money, in case you need it. These are all definite pluses, but are not guaranteed savings results.
Any extra income which an investment might generate above your home equity appreciation can be offset by a bad year in the investment market. Investment earnings can virtually eliminate the income tax advantage of your mortgage interest deduction, since stocks and bonds are likely to generate a fair amount of dividends, interest income and capital gains.
It isn't as simple as conventional wisdom--consult a financial expert.
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| Q |
What is considered one of the greatest U.S. construction projects that was also of great strategic importance to the U.S.?
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| A |
The Panama Canal, begun in 1904 and completed in August, 1914, which cost $366,650,000. |
 See More Real Estate Trivia > |
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Thomas R. Gross
RE/MAX Action Realty
1126 Horsham Rd.
Maple Glen, PA 19002
Office: 215.358.1100 x1155
Direct: 215.358.1155
Cell: 215.450.9323
Fax: 215-358-1154
Email: pennahomes@NUMBER1EXPERT.com
Come home to a new level of real estate comfort with one of America's NUMBER1EXPERTS™ in the Horsham area, Thomas R. Gross. I am in the top 1% of all REALTORS® nationally, servicing all of Bucks and Montgomery County, Pennsylvania. Just call or email me!
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