Mortgage Free: What Would It Take To Pay Off My Mortgage Early?
Owning your home “free and clear” may be easier to achieve than you believe. Use this calculator to see how much extra you would need to add to your regular payment so you can pay off your mortgage loan early. As you’ll see, a relatively small extra investment can make a big difference over time.
Just remember that the monetary value of an early pay-off equates to what you save in interest. Since mortgage interest can often be tax-deductible, there may be better ways to use your cash to build wealth. Always check with your financial advisor before making these types of decisions.