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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.

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Steve and Nancy Evans
Keller Williams Success Realty
1725 E. 1450 S., Suite 220
Clearfield, UT 84015
Phone: 801-510-5000
Fax: 866-409-5945
Email: steveevans@number1expert.com

When you are buying or selling property in today´s real estate market, it´s important to have confidence in your real estate professionals. Our commitment as your local REALTOR? is to provide you with the specialized real estate service you deserve. When you are an informed buyer or seller, you´ll make the best decisions for the most important purchase or sale in your lifetime. That´s why our goal is to keep you informed on trends in the marketplace using the latest statistics in your local area. With property values continuing to rise, real estate is a sound investment for now and for the future. As local area experts with knowledge of the communities, our objective is to work diligently to assist you in meeting your real estate goals. If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don´t hesitate to call or e-mail us. Thank you for visiting our website - please consider it as your online source for local real estate information, and return often for the latest property listing updates.

        

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