There are a lot of factors to consider when deciding whether to pay your mortgage off early. Before making any financial decisions, make sure you step back and see the big picture before you pay off your home. Here are five questions to answer to help you make the right decision.
- Does my mortgage have a prepayment penalty?
- Will I still have money for emergencies?
- Am I behind on retirement savings?
- Do I have other debt?
- How important is this goal to me?