Are there any disadvantages to paying off your mortgage? Can you always just get another mortgage later on, or doesn’t it work that way? This is in Canada, where mortgage interest is not tax deductibl
Are there any disadvantages to paying off your mortgage? Can you always just get another mortgage later on, or doesn’t it work that way? This is in Canada, where mortgage interest is not tax deductibl
Are there any disadvantages to paying off your mortgage? Can you always just get another mortgage later on, or doesn’t it work that way? This is in Canada, where mortgage interest is not tax deductible.
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There is also the opportunity cost of your money. Because of inflation, the mortgage payment you pay today is more “expensive” than the same mortgage payment you make 10 years later.
If you have a low interest mortgage, that same extra amount you pay into the mortgage could make more money in another investment, even factoring the extra interest.