Buying Your First Home? Real Estate Agents Are Your Professional Guides. Make Sure You Choose a Top Expert. 

Conventional wisdom says, "Don't pay off your mortgage early." Are you foolish to consider an early payoff? Absolutely not! By adding just $50 to $100 to your mortgage payment every month, you can save thousands of dollars in interest, pay off your loan quicker, and eliminate a major monthly expense.

The argument usually given against paying off a mortgage early is that you can make investments with your extra cash, such as mutual funds, stocks or bonds, which pay higher returns. This approach enables you to take the mortgage interest deduction and have easy access to your money, in case you need it. These are all definite pluses, but are not guaranteed savings results.

Any extra income which an investment might generate above your home equity appreciation can be offset by a bad year in the investment market. Investment earnings can virtually eliminate the income tax advantage of your mortgage interest deduction, since stocks and bonds are likely to generate a fair amount of dividends, interest income and capital gains.

It isn't as simple as conventional wisdom--consult a financial expert.

	See All Tips In The "Financing Your Home" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Joyce Barnwell
Intracoastal Realty
1206 N. Lake Park Blvd.
Carolina Beach, NC 28428
Tel: 910-617-7654
Fax: 910-458-7759
Email: joycebarnwell@NUMBER1EXPERT.com

Residing in the peaceful coastal community of Carolina Beach, I’m a licensed North Carolina Realtor with over 30 years real estate experience and 20 years owning my own real estate company, faithfully serving the unique real estate needs of buyers, sellers and investors. I specialize in the listing and selling of residential pre-existing homes, newly constructed homes, waterfront property, golf course property, investment property, condos and duplexes as well as lots for sale in and around North Carolina’s New Hanover County coastal communities of Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach and Figure Eight. Thanks again for visiting my site and don’t hesitate to call me direct at 877-617-7654.