By Ted Rossman
Bankrate.com
My wife and I bought our home in 2013 using a $417,000 30-year mortgage at a fixed rate of 4.625 percent. In 2020, we paid it off 23 years ahead of schedule, saving about a quarter of a million dollars in interest.
Why Paying Off My Mortgage Early Was the Best Financial Decision I Ever Made
Owning our home without a monthly payment provides tremendous peace of mind.
If you have a little extra money now or in the future, prepaying a mortgage provides tremendous peace of mind as well as tangible financial benefits. fizkes/Shutterstock
