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There are three reasons I want to pay of my mortgage, even though my interest rate is 2.99%: 1. Minimize financial risk. There are no risk-free investments. T
by kevmarsden 3y ago
There are three reasons I want to pay of my mortgage, even though my interest rate is 2.99%:
1. Minimize financial risk. There are no risk-free investments. There is no guarantee I'll have a high income in the future. And there is no guarantee that the value of my home will remain higher than my mortgage.
2. Peace of mind
3. I don't want to deal with mortgage loan servicers. My loan seems to get sold every couple years and I have to log into sketchy, outdated websites with web addresses like phhloansphereservicingdigital.bkiconnect.com.
- joshstrange 3y ago1. If I put all the money I would have put towards the mortgage into savings and don't touch it then there is no risk. That money is FDIC insured and I get the interest monthly 2. I understand but see #1 3. This is completely fair but for 2.75% gain I'll put up with that