Should I pay off my mortgage early?

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Should I pay off my mortgage early?

Rounding it up

  • Paying off your mortgage early can be a great idea, but it depends on your financial situation.

  • Making extra monthly payments on your mortgage will reduce the amount of interest you pay over time and doing so will help you become debt-free years ahead of schedule.

  • Depending on your financial situation, it might make more sense to invest your spare cash in an RRSP or TFSA.

  • While paying off your mortgage early is awesome, doing so shouldn’t come at the expense of your other finances.

7 min read

Gaby Pilson
#mortgage#loan#home ownership

Gaby Pilson

Gaby Pilson is a writer, educator, travel guide, and lover of all things personal finance. She’s passionate about helping people feel empowered to take control of their financial lives by making investing, budgeting, and money-saving resources accessible to everyone.

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