Don’t Pay Off Your Mortgage Early: 7 Reasons

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Paying off your mortgage has been a monumental goal for decades now. But is it the right thing to do in the 21st century?

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There is a big difference between good debt and bad debt when it comes to debt. Mortgages are considered good debts because they are fixed and typically have low interest.

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The interest you pay on your mortgage is usually tax-deductible. This deduction can amount to significant savings, especially if you are in a higher tax bracket.

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Other investment opportunities will provide a better return than paying off your mortgage early.

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You may be carrying other debt with a higher interest rate than your mortgage. Pay off this debt before aggressively paying down the mortgage.

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