The pros and cons of paying off your mortgage early




If you have the means, the appeal of paying off your mortgage early is obvious: You will finally be done making payments on your home — including that continually accruing interest — and you will own your house free and clear.

By going all in on your mortgage, however, it can also mean you have less money to devote elsewhere. Depending on the specifics of your financial situation, the trade-off might not be as worthwhile as you think.

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