Payoff mortgage or keep investing Hello, i have a 15 year mortage with fixed interes rates at 2.5%. I already paid half of it and are in a good financial position, soo my mortage isnt a problem to me. I have about 20k€ invested in VWCE ETF and 30k€ in personal savings account with the plan to invest 20k€ of that. My question, Should i pay off my mortage as soon as possible with …

Where to start on mortgage loan? Hello- if there is already a ‘read this first’ post on this subreddit for first time home buyers to read, feel free to just direct me there. I am starting the process of buying my first home, and I have been searching around and doing research on places to use for a loan, to get pre-approved. However, all of the places I find (mostly online so f…

Seeking perspective – mortgage refi? Welcoming all feedback and angles I have not considered $230k left on a home values at $750k 11 years left at 6.375pct. Monthly is about $2300 without taxes or ins Payments are within tolerance – meaning it’s not killing me, but would be nice to open up cash flow Thoughts on refi to a 10yr / 15yr /30yr loan? I see benefits/drawbacks to paying it…

Should I pay off my mortgage? I (52m) lost my job in July 2024 due the company going under. I have 2 rental properties and sold 1 of them in Sept for $900k. I don’t have a mortgage on the 2nd rental property. I have $172k left on my mortgage of my primary residence. I’ve been working from home since 2014 and became very comfortable. I refuse to go back to commuting and offic…

Pay into 401k or pay down mortgage? Playing around with the numbers of putting 15% pre tax into a 401K or 4% pretax Into 401K (to get full employer match) and 11% after tax into a mortgage with a rate of 6.99%. Calculator says If I do that I can pay off the 275k mortgage off in 10 years. I am only in the second year of this mortgage. I bought the house to take on my dad who is wa…

Pay off 6.5% mortgage on duplex? Basically the title. I bought a 2 family home that cash flows are 800-900 a month. I have 190,000 left and was thinking that I can aggressively pay it off by 29 years old. Live with my parents at the moment and they even offered to pitch money here and there to help me pay it off. I am a 27M who makes around 150-170k gross income. Take home aro…

Mortgage question. Stay or sell? Serious inquiry. Mortgage question. 7% on $330,000. With HOA, pmi etc, paying $2800/mnth w only $200 going to principal. 1.5 years into mortgage. HCL area. Can rent our condo for $1900-$2000/mnth. Opportunity to rent/live in different place for $1200 and sell condo for $50k profit. Thought refi rates would fall sooner. Stay/wait for refi or rent…

Invest or pay down mortgage? My husband and I essentially just have what we’ve put into our 401K for retirement. We’re about to have a paycheck from selling our previous home. Our current home has a high interest rate (7.25%). After paying off our student loans and making sure we have a 6 month emergency fund, does it make sense to just put the rest of the money into our cu…

mortgage recasting immediately after starting a mortgage loan. Ok so from what I noticed from window shopping lenders is that the more money I put down past 20% the higher the interest rates goes. I have more money past 20% (more like 40%) that I want to put down on the house. My idea is getting a 15 year loan getting 6.1% on the interest rate then immediately recast the other 20% on said loan. since the …

Mortgage options for a someone who doesn’t work a traditional 9-5, but has assets? My family has started to outgrow our current house, so we’re looking to upgrade to something a bit bigger. The only problem is, my income is very different than the last time I got a mortgage. I run a small business that my wife and I are employees at so we get a W2. We’ve made about 85k total on those W2s since 2017, however last year and now t…

Mortgage payoff question I plan to pay off my mortgage in full. My payment is due on the first of every month. Should I pay it off at the beginning of the month or in the last week to minimize interest? submitted by /u/Creative-Sea955

Pay Off Mortgage or Build Up 401k? Seeking Advice. I am good at budgeting and not overspending, but not well-versed in this situation. Mortgage balance is ~$415k with a 6.25% interest rate and 29 years to go. 401k balance is ~$315k with an “annualized +5.66 rate of return” for the past three years combined. On track to contribute $22k this year and am also getting 5% employer m…

Mortgage Refinance or HELOC? Ex wife and I separated four years ago. Divorce and custody litigation were a fortune. Spousal Support and Alimony payments are finally done. My attorney collected over $100k. I collected debt; an embarrassing amount of debt. 50K in high interest CC debt and a 100K HELOC. I bought my ex out of the marital home. I live in our daughter’s school di…

Should I pay off 7.125% mortgage? I purchased a $460k new construction home in July. The dealer was offering $10k incentive to finance with their lender, so I used the credit to pad my escrow account, but ended up with a 7.125% rate. The loan balance is $260k, and I have the funds to pay it off. I currently pay $1.5k a month in interest. Is it better financially to pay off the r…

If my house is being sold on the 5th, but my mortgage is due on the 1st, should I pay my mortgage payment on the 1st? I was advised that the wire would take place on the 5th, paying off the mortgage immediately. That, paired with the 15 day grace period, puts me in the safe range of saving this mortgage payment. However, paying something past the due date just feels wrong on a very deep level with me lol. Are there any reasons anyone can think to not go through…

Should I recast $2k mortgage or pay it off early? I refi’d in 2020 with a 20 year fixed @ 3% (was 3.75% ARM, phew!). Over the past couple years I have made a few large payments to the principal. The remaining balance on the loan is $88k. Current monthly payment is $1934 Recast payment would be ~$1450 Maturity date of loan is 5/2040 If i do not recast, i will pay it off in 2031 or so, i think…

Extra mortgage payment Hello For the past year I have been making an additional $1,500 payment towards principle on my mortgage. Balance of current mortgage $442k Monthly payment is $3714 Interest rate is 3.12% And I have been doing an additional $1,500 payment I am now wondering if it would be better to invest that $1500 into a fund of some sort (that can be accesse…

Which mortgage product is better? Tried asking this in a real estate sub and got limited results, so I’m trying here. Full disclosure: My wife and I can equally afford ALL of these options. This question is not about affordability. Option 1: 6.875% interest, 5% down. $450 lender credit. Option 2: 6.5% interest, 3% down. Payment is $5 more per month vs opt 1. If I wanted to put…

Does it make sense to pay off my mortgage? I’m new to Reddit and I’ve seen countless posts about the same topic, but I guess I just need reassurance for my particular scenario. I’ll try to keep it brief but if I leave out any necessary details let me know. Remaining mortgage – $115K Mortgage payment – $865/month Mortgage Interest Rate – 2.625% Age – 31 yrs old (M) HHI – $95,000 (wife is …

Paying a mortgage under sister in laws name I saw someone else ask about mortgage payments on here so I thought I’d give it a shot. My husband and I are living in one of his mother’s houses but it was refinanced under his sister’s name so we are sending her the “rent”(mortgage payment) every month. Well just today in the mail we received a letter saying that the payments are behind nearly…