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Paying off mortgage early


andhrabullet
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1 minute ago, Spartan said:

keep cash or invest in something else

dont pay off ani ma boss @k2s bodincharu

ante 30 years loan ki kooda same logic applies aa baa

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1 minute ago, mettastar said:

Antha cheap interest rate unte enduku pay off cheyadam

If you have cash invest in good funds .. at least 6-7% per yr vasthayi

ante 30 years loan kada.. plus amortization  lo first interest chalu pothundi kada few years lo

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4 minutes ago, andhrabullet said:

ante 30 years loan kada.. plus amortization  lo first interest chalu pothundi kada few years lo

20% down payment cheyakapothe pay early until 20% so that you can get rid of PMI

yes, initial ga interest ekkuva untundi , I think some people prefer to pay it early just so that it is off your shoulders..will be a great relief not paying mortgage every month...

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Mortgage interest 2-3%... Koncham kastapadi research chesthey min 5% returns vache mutual funds chaala untayi. Safe bet vi. Don't ask me which. Nenu research cheyyaley.

I paid of my loan in 5 yrs. Because I was taking big risks in stock market, I just wanted to secure something first. 

 

Another thing to consider, u can claim certain amount of interest in tax returns. So it's better to have mortgage

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45 minutes ago, andhrabullet said:

ante 30 years loan ki kooda same logic applies aa baa

Dhenikaina same logic

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43 minutes ago, andhrabullet said:

ante 30 years loan kada.. plus amortization  lo first interest chalu pothundi kada few years lo

Thats misconception .. to keep the monthly payment same .. initial ga principal ki low contributions and interest ekuva contributions velthayi .. even if you make one time payment .. amortization calculation change avvadhu loan tenure thagguthadi anthe  

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depends of personal perspective as well.

If I had extra cash I would pay some of my mortgage to reduce my monthly mortgage.

reducing some burden .

as @vampire said  I would prefer to pay off at least my primary residence and investment home tho yelagaina games adacchu .

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1 hour ago, andhrabullet said:

good or bad choice? extra cash unte...

 

@Spartan  @Vaampire @csrcsr @veerigadu 

neeku 3% yavaru ivaru 

if you are person, dont have resources to invest at all.....go head and do it, i know where you are coming from; you think you getting your monthly payments down 

 

but remember in a mortgage loan.....in the first 5/10yrs you pay the max intrest and rest of the your are just paying most if the principle 

try looking at all your statements, you will get it 

all the best.....i was in your boat a while ago.........i know how it feel, if you dont have people/resources to invest 

PS: lets always better to keep the money you have, instead of making wrong decision n blowing it all 

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