Yes or no to mortgage payoff
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Yes or no to mortgage payoff
I owe 135K on my mortgage at 3.1% (8 years remaining on mortgage). No other debt. Have 175K in cash. Should I pay off the mortgage or invest the 175K?
Re: Yes or no to mortgage payoff
if you want to get in the market you pay off the mortgage then take out a heloc for whatever amount to want ( LTV of say 80%).
buy your investments then the interest is tax deductible.
keep the paperwork to prove all this.
buy your investments then the interest is tax deductible.
keep the paperwork to prove all this.
Re: Yes or no to mortgage payoff
See finiki: Paying down loans versus investing.
finiki, the Canadian financial wiki: a knowledge base of financial subjects written from a Canadian perspective
Re: Yes or no to mortgage payoff
Just paid off ours this fall, no regrets. The psychological aspect of being mortgage free is liberating and frankly, priceless. Do it and don't look back, don't worry about the interest rates or short term differences relative to investing.
I notice your post was about a month ago now, did you make a decision yet?
I notice your post was about a month ago now, did you make a decision yet?