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Paying off mortgage early


andhrabullet
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Just now, mettastar said:

Ikkada oka point miss avuthunnaru janaalu .. even if you make lump sum payment .. your monthly payment wont change

You can recast loan to reduce monthly payment. 

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bank account lo money undatam waste. if you cant invest in other stuff then pay off the mortgage. if you can invest , then keep it as is. keep money in index stocks if you dont know where to invest. all the best.

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33 minutes ago, JackSeal said:

You can recast loan to reduce monthly payment. 

Not easy and many wont agree .. better is to refinance rather if interest rates are low

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4 hours ago, andhrabullet said:

good or bad choice? extra cash unte...

 

@Spartan  @Vaampire @csrcsr @veerigadu 

good or bad choice anedi pakana pedithe, initial years of mortgage la already interest componenent maximum kattesi vuntav...towards end of the loan, principle maximum, interest minimum vuntadi...

overall interest rate kakunda, last few years interest okate calculate chesthe you are effectively paying less than 1% interest rate...you will be spending more on starbucks coffee than interest rate..

Home loans, maximum advantage if they are paid up with in 4-5 years or else better not to pay off at all...

 

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check how much of interest is pending on your loan... if it is considerable , then you can pay off.. 

if you have paid most of the interest (depends on how long you paid the loan), then it is not worth to pay off the loan.. better invest somewhere else if you can afford the monthly payment...

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4 hours ago, andhrabullet said:

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

treat that interest == inflation $ depreciation man.. 

 

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4 hours ago, Spartan said:

keep cash or invest in something else

dont pay off ani ma boss @k2s bodincharu

appula apparao suthralu follow avvandi vay... 

dont earn more money and pay 30% taxes... borrow money and pay less <5% interest.

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It depends on how big is your principal is?  700k ayithe even 2% interest is a lot if you ask me 
 

Anything less ayithe mathram, Ippudu unna interest rates are very low. Veetiniii kuda baruvuuu la feel ayyi kattesthaaa anteee neee Ishtam. I would rather invest that money elsewhere instead of paying off the loan 

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