Why You Should NOT WAIT To Refinance Your Mortgage - Refinance Home Mortgage
ฝัง
- เผยแพร่เมื่อ 29 ส.ค. 2024
- Looking for a mortgage comparison tool?*
✅ Get a free mortgage refinance quote*: bit.ly/Mortgag...
✅ Get a free mortgage quote*: bit.ly/Mortgag...
*Advertisement from Credible Operations, Inc. NMLS ID# 1681276
Refinancing your mortgage is very attractive with interest rates being so low - in this video we go over how to save the most money on your mortgage refinance
Subscribe To Our Channel: bit.ly/M2TH-cam
🚨Read Our FREE eBook🚨 Get Richer Sleeping - Investing 101: bit.ly/m2Invest...
Recommended:
Investing Your Money: • RICH PEOPLE Do This Wi...
Real Estate Investing: • My WORST Real Estate I...
Save $295/Month By Refinancing Your Mortgage - Refinance Home Mortgage
0:23 - Refinance can be a great way to save money on your mortgage if you refinance your mortgage the right way
0:55 - The new mortgage refinancing fee starting December 1st 2020
1:45 - What happens when you refinance your home going through a mortgage refinancing example
4:04 - How the mortgage refinance process works to pay off your original lender with a new loan
7:49 - The truth about cash out refinancing for your mortgage
8:40 - How to find a good mortgage rate by using a mortgage comparison tool
9:43 - How the new mortgage refinance fee works
10:50 - How Fannie Mae and Freddie Mac buy loans
12:39 - How much the new mortgage refinance fee is going to cost you
13:09 - How to save the most money on your mortgage refinance
What Is The Minority Mindset?
We are a financial news & education company. The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people. #MIH #GetMoneySmart
Check out some of our recommended products! Please note: These are our sponsors, so if you use them, we will get compensated. There's no additional cost to you.
----------
➤ Real Estate Investing Online
1) 🏠 Fundrise - Invest in real estate with as little as $500! See the historical returns here:
bit.ly/InvestFu...
----------
➤ Best Online Savings Account
2) 🏦 CIT Bank - Get a much better interest rate on your savings account with no fees. CIT Bank is FDIC Insured and conditions apply:
bit.ly/CITsavings
----------
➤ Active Stock Market Investing
3) 📈 Webull - Buy & sell stocks, pay $0 in commissions, and get a free stock: bit.ly/m2Webull...
----------
➤ Passive Stock Market Investing
4) 💰 M1 Finance - Pick a few ETFs and stocks, then let M1 Finance invest your money automatically:
bit.ly/M1Finan...
----------
➤ Loans & Refinancing
5) 💸 Credible* - Get the lowest interest rates possible on your loans - see how much you can save:
Mortgage Refinance: bit.ly/Mortgag...
Getting A New Mortgage: bit.ly/Mortgag...
*Advertisement from Credible Operations, Inc. NMLS 1681276, not available in all states. Visit www.credible.c... for important information about Credible’s licenses.
----------
➤ Home & Life Insurance
6) 🛡 Policygenius - make sure your family is protected with life insurance & home insurance. Policygenius will find you the best deal at no cost to you:
bit.ly/Policyge...
Get a free home insurance quote: bit.ly/m2HomeI...
----------
➤ Car Insurance
7) 🚗 CarInsurance.com - See how much you can save on your car insurance with a free quote:
bit.ly/m2carin...
----------
➤ Credit Cards
8) 💳 See some of our recommended credit cards*: bit.ly/ *We are compensated when you click on or are approved for offers. The information in this video and TH-cam description was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities.
----------
Twitter: / minoritym1ndset
Instagram: / minoritymindset
Facebook: / minoritymindset
See more & read our blog! www.TheMinority...
This Video: • Why You Should NOT WAI...
Channel: / minoritymindset
Video host: Jaspreet Singh
DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.
DISCLAIMER CONT'D: I'm just a random guy on TH-cam so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
![The Wall Song ร้องข้ามกำแพง | EP.208 | นุ้ย สุจิรา / เกลือ กิตติ | 29 ส.ค. 67 [5/5]](http://i.ytimg.com/vi/_CJ0VbY47TI/mqdefault.jpg)
Thank you for watching! If you enjoyed this video, you should watch - 2020 Interest Rate CRASH: th-cam.com/video/kExz4AsaF5c/w-d-xo.html
Thanks a lot! I am not from the US but somethings are useful even here
Impactful video
So how do u get out of contract with lender one?? Could u explain
I'm thinking of refinancing, but don't want to pay the closing costs
If you are paying extra on your mortgage, be sure to specify that the extra money goes to PRINCIPAL ONLY. The mortgage company is not your friend and will apply the extra money to interest unless you specify that it is to pay for principal only.
Also, don't do a cashout refi unless you are using the money for critical repairs, investing in your own business or an investment property. Don't risk losing your home for fun money or risky investments!
Trading crypto currency is also a nice way to invest your money and savings to enable you change your life for the best.
In few years to come people will be kicking themselves in regrets if they miss this opportunity of buying and investing in crypto currency.
Crypto trading is a very lucrative of making money online at the moment.
My investment in stocks and crypto are really given the current increase😘...
Crypto currency is the future.
Bitcoin has been with us over 11 years now and has risen to $11,000 despite the price fluctuations it's still going to $13,000 soon
"Let me show you...Broke" 🤣 Awesome video learned a lot, thank you.
LMAO 😂
🤣‼️
YOLO!!!....into the ditch...
So glad you put it all out on the whiteboard because it can sound like a such a good idea to refinance, but you really need to look at the numbers! Great breakdown and explanation!
Agree!!!! We gotta break it down before doing anything
If you're refinancing but plan to continue making your same payment to pay off your loan early, make sure there is no prepayment penalty in your loan terms.
If you on a 30 yr note and put in 10 years,
You dont have to do 30 years again.
Get on a 20 year plan
Or
Jump on 15yr plan to be done 5yr fast then original plan
Don't let your equity melt away right now. If theirs a correction or crash. Great info 👍
I'm trying not to.
The bastards won't refinance my mortgage due to how little I owe left on it. $59k. i was hoping to refinance, pay the damn thing off,(It's the only debt I have left) then take out an equity loan for some desperately needed home improvements to include a full kitchen remodel. But nooo.
@@tailgunner2 would the closing costs on the loan be worth it? Can you just start directing as much of your budget as possible toward the mortgage. Depending on your income, you could probably knock that amount out in a couple years.
@@tailgunner2 being that close to the finish line and with the uncertainty in 2021 it may not be a bad idea to let it slide, pay it off early, and use your new cash flow for remodeing
@@rapture333 Yeah, I have been paying down the principle. I guess I'm just getting impatient.
Ever since I paid off the car, I redirected that money towards the mortgage.
I'm glad I don't have to have worry about this being debt free. Those with a mortgage pay it off as soon as you can and you will see freedom. Refinancing will help in dropping the interest and make sure you pay more on the principle.
Thank You for sharing this video big fan of your channel.
It took me a while but I was finally able to get my wife to understand why we needed to refinance our house that we have owned one year. It helped that she watched much of the explanation on this video.
This is what the governments need to implement into education in schools colleges etc. instead of learning about things which don’t really help you in life.
Think it this way. While most people are watching TV and playing video game, and becoming more idiots to spend more. You, on the other hand, knows what's the right thing to do. Is this a great gift for you?
They would never purposely give anyone the answers to paying them less hava
@@Taxia123 appreciated that
@@WAIRUA yes
I was thinking for option 4, sell the house and move to the south and pay cash for a house.
I like how all the liberals from Cali, WA, Oregon, etc are moving to the south in droves. Red states don’t look bad now don’t it???
You should have option #4. A 15 year loan. And usually 15 year loans have lower interest rates than 30 year loans. Also your house will be paid off faster than all of the options given in your video
Why not get a 30 year and pay on it like a 15 year?
@@tsm3479 15 year loans have lower interest rates, so paying a 30 year loans like a 15. You will still be paying out more money than just getting a 15 all together
@@dbettis6477 disagree
Anyone who uses option three for vacation should be slapped 😂
LMAO
Who vacations during a pandemic anyway lol
Morons
The plan is to pay off our primary property before retirement. Lowered our monthly payment and saved 5 years off the loan. That's a WIN WIN.
Now that’s what I call working smart
Think you missed two of the best options
Option 4:
Loan $129k 15 year mortgage
Would be similar to option 2 (30 year paying old monthly payment amount) but in most cases that 15 year is in the 2.x% lower than a 30 year would be. Payment would end up similar to original and option 2 but would pay off sooner at a lower interest rate
Option 5:
129k loan 20 year mortgage
This is the one banks keep calling me about and would be perfect for this example because 2010 to now means a 20 year loan would also pay off in 30 years total between the original and refinance but at a lower rate, and would lower the monthly payment. More money to invest or save in these pandemic times
Instead of doing a refi on our town home, wife and I took advantage of the low interest and put a deposit on a new home. Best thing we could have done.
Until the market crashes and you’re hopelessly underwater.
D ya talk about a horrible time to do that. My neighbor did the same thing and can’t even find anyone to rent out his first house LOL
@@Dhleeiv but even if it crashes, our monthly stays the same... So if we are there for the long run does that matter?
@@CHEFPKR these questions should be asked to your lender, agent, and your partner. Not some random dude from TH-cam that has no info about your finances.
@@Dhleeiv how would this happen? Im having trouble picturing the scenario in a event what you say is true.
Until the day we don't have to worry about a mortgage.
Let all your wild dreams come to fruition
Remember, you are always literally ONE decision away from changing your life. You have every potential required.
Bless you all
My wife and I just put in a application to refinance our house last week.
Hope everything goes well!!
As long as you have good credit and a decent debt to income ratio you'll be fine!
Congrats!! Same here.. It just makes sense... Interest rates are so low.. Home prices are HIGH!!
The fees are an astronomical joke. I talked to 2 lenders, my current mortgage company (penny Mac) wanted $10K to refinance a $150K loan. The other wanted $8k as an estimate. My current lender wanted $1100 dollars for a title check.
Who is that current lender if I can ask?
Remember you can also probably get rif of your PMI if you have payed off 20% of the loan already.
Ohhh that helps
@Iggi Barratto Private Mortgage Insurance, its basically just an extra charge on your mortgage payment only because you didnt give enough down-payment. To avoid this many people give atleast 20% down when buying a home. This can also be done if you have payed off that percentage in your mortgage and you refinance.
God how I hate PMI! It costs us another 250$ month. sigh 😔
@@aflare821 look into refinancing before Dec 1st, of course all other details line up.
@@aflare821 I saw another video that explains how to take out a heloc to pay down your principal. I’m wondering if I do that will I be able to get rid of my PMI
The ONLY reason I could see doing option 3 is if I was going to take that extra 100k and put it towards paying off higher interest debt like student loans.
"option 3... broke!” had me laughing. I have friends who just did option 3 and they said "the car paid for itself". I was like....no it did not!! Lol
What about the option to refinance with a 15yr at a rate that's usually lower than a 30yr..
Most Vietnamese way. Work and save as much money, big down payment. Borrow the rest from parents and pay them monthly with no interest.
So I’m trying to hell my parents with refinancing their house. Bought it brand new back in 2007, $131,000 home in the Houston suburbs, but they are non US citizens. So my question is how can they refinance with a lender if they aren’t citizens?
Athough with their citizenship it would prove difficult to get refinanced as i'm sure you'd understand my point the factors of being the first owners and having the property in TX are huge pluses. Based off this if you could explain more of your situation especially as pertains to the equity and your parents ability to keep to terms I could help you get refinanced with a contract completely suited to your plans.
Yup. I refi and got some cash for new roof, hvac and general fix-up around the house.
Went from 3.75% down to 2.75 and only increased my mortgage ($670- $705) payment $30 with a 40k cash out..
It's best to just pay more into your loan so that it's gone faster. Don't get caught up in all riffraff. Dave Ramsey has a tool on his website that calculates loan payoff.
Gotta invest the difference.
I just started getting into personal finance and I can't tell how much I appreciate your videos and guidance!!! I just became completely debt free 6 months ago and learning how to invest now! THANK YOU!!!
To.... BROKE!!
That was a great cut, loved it.
😂😂🙏🙏
This is a huge opportunity to save money over time!
Cash out refinance for an amount that will allow you to pay just about the same monthly. Use the cash to purchase another place as a rental.
Option 4: Take out a Heloc and combine checking and savings and utilize dollar cost averaging to pay off in less than 8 years and pay only $100 in fees
Nearly finished refinancing mine. Just waiting to close. Were in our forever home. By refinancing right now we are cutting 9 years worth of payments off, monthly payment is going up only 75 bucks a month, but we will be saving nearly 40k in interest over the course of ourvnew 15 yr mortgage
And here i am too much of a pauper to get a mortgage in the first place, even with a 750 credit score
Why are you a pauper?
@@cliftt meaning one can spend $0?
@@TuscanWonder U should attend a 1st homebuyer class in your town/county. They will give u the details for your state. The classes are typically FREE and they bring in bankers, realtors, inspectors etc. to answer questions.
@@cliftt i might have to look into that
Having a credit score between 750-850 should get the lowest rate available.
Good morning everyone, have a good a today.😃
I don't know who needs to hear this but stop saving money. Invest some of it if you want financial freedom
Crypto trading is a very lucrative way of making money online now.
For real is lucrative My investment in stocks and crypto are really given the current increase
The wisest thing that should be on every wise individual's list is to invest in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard.
Good talk, I tell my friends everyday. It's good to save money but gotta have that investing spirit if you really want financial freedom
This already happens in portugal for many years, and the most agressive lenders will cover the fee.
Even consider the fee, going down 1% you will recover the fee in no time.
I would rather live in a shed then to have another mortgage.
Amen.
People are literally doing that or similar with these micro homes and converted Sprinter vans
You're obviousy a man :D
I like option 1. More cash flow for investments.
Yup!
My husband and I are refinancing our mortgage to get rid of PMI.
I have paid off my house and apartment but have a credit line ready for if the housing market crashes. I'm ready to invest.
The problem with Refinancing is the closing costs.
Everytime you refinance your house you’re resetting the clock of how long it will take to pay off your house.
No, you can have 5, 10, 15, 20 year mortgages
@@Postofficejoe so if someone refinances from a 30 year mortgage to a 15 year mortgage do they not lose out any equity in the process?
@@maxjohnson1950 No loss in equity.
I’m just gonna pay my home off in a couple of years. No refinancing fees. No more renting from the bank.
Very valuable. I learned a lot. The way you are explaining is brilliant everyone can understand. Thanks
We need to protect Jaspreet at all cost
Why don't they teach such at school?
Schools will not teach this because they are part of the problematic system. They do not want us to find financial freedom. They want to keep us slaves to debt.
They used to have arts classes. Music. Civics. Economics. Oh well
Because then school would be fun
Donna W. Well said👍
Be aware of refinance cost. Credible quotes for a 2.5% interest rate cost over $20k.
For 30 years. For 15 years it's easier
I got a 2.5% rate. Refi cost me $2k, not $20k.
@@adriancp9957 wow what bank is this?
I can’t go a day with outgoing watching your videos. Thank you for your knowledge
Option 4, refinance the balance into 15 year loan , at a much lower rate :)
That’s what I did except 20 years
Unless you have a high balance or high payment there is no point in refi. Take the closing costs and throw it towards the principle. If I did that right now, that 5k worth of closing costs turns into 10k of payments due to interest savings.
Option 4
Take remortgage of 129k for 25 years and pay 612 dollars monthly, invest the difference. Overpaying mortgage has no investment sens coz it is low rate debt but ... it has huge emotional charge to be debt free, can be very motivational.
Finally a video that explained everything simple other videos were too complex and left me with more questions I had before.
The easiest way to purchase a home is to save your money, budget wisely and live within your means. That way you can pay cash for a home.
You shouldn’t pay cash for homes dude lol. I think he had a video about that a few months ago
Never refinance for personal home! Only refinance for rental business home! For my personal opinion
Thanks for your input. Is this because the refinace fees would be a tax write off?
Can you please do another refinancing video with 15yrs instead of 30yrs?
The rich stay rich by investing like and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich,
Well said👏
You are right, investing is the key
Well that's generally true its concerning that several of the richest most successful investors are sitting on the sidelines right now and waiting for a better entry point
So true lol, it doesn't make sense
It can be said a little simpler, if you want to be rich then focus on saving and investing, if you want to be poor then focus on spending
Already invested in stocks and I cant really get a good returns from it
@@michaeldrake6489 the stock crash is just inevitable that's what you just have to understand
I ABSOLUTELY LOVE THIS CHANNEL, WHAT A PLETHORA OF KNOWLEDGE!! THANK YOU JASPREET!!
Love listening to you on my way to the gym.
He’s always bringing value
Hey everyone!! Have a great week!
You too. ❤ Thx
Dude you are a lifesaver thank you for the awesome video
I love to smell flowers first thing in the morning. 💐 🌺
The refinance fee will be baked into the interest rate and passed onto the consumer. Moreover, most folks will find out that they don't have the money to bear clossing costs associated with title and escrow to begin with. In the state of Florida it's almost 4000 dollars. Lender will charge them a higher interest rate in exchange for a rebate on closing costs. The rates b/w lenders don't vary that much and change nearly everyday. A mortgage broker offers only an illusion of comparison shopping, unless of course Crdeible offfers a borrower paid comp plan. In fact Credible will charge you 1% of loan amount just for filling out an application. Moreover, they will hide the fees by baking it into the interest rate. Unless you are paying 7% , dont fall for the refinance trap.
I have an evaluation rule for promotion/advertising I see. The cost of marketing is figured into the price the advertiser is offering. If the marketer is using higher cost methods, e.g. personal selling on the phone, you the customer are probably getting less value. As a result I treat expensive marketing as repellent and hang up or don't pick up.
A guest on The Wall Street Journal Report spoke sometime last week about making over $431,000 in 4months with a capital of $100,000, which made me realize that as a beginner i have alot to learn, so please assist me with any pointers or tips that would help me make this much profit.
seek the guidance of a professional.
I’m a new investor as well and I use a broker Agatha Christine Robinson she’s been guiding me with my investment since I began late last year and I’ve been able to accrue a profit of $326,000 with a principal of $85,000
@@august9050 Wow I always wanted to invest with a professional but I never knew how to go about it please how do I reach Agatha and how does she help investors
@@paulinescholes6797 she assist investor by guiding them, you can find all you need to know about her on google by searching her name
Agatha Christine Robinson, she's quit popular among some investors here in California
@@august9050 yes i know Agatha , i attended her webinar last month on stock
Ustaad can you make video about option 3 and how you take that money again to bank to get more like 70% and your own 30% to buy more real estate for renting out?
Don't forget the closing cost and brokers fee.
You do a good job like you you're you're a good person you're honest I did try to use the credible thing to compare rates and it didn't even work for me it just said you're not eligible I don't know it didn't work
7:46 was ESSENTIAL for a lot of people to hear 😂
In my country at 1.6% on my loan and a tax refund of about 1000$ yearly, paying off the loan early would be dumb. Lower and longer monthly payments allow me to save and invest in dividend stocks that usually gives higher return than 2%. So I refinance and always put it back to max duration and least monthly payments.
Refinance your home, u mean refinance there home until you have payed it off 😂
The problem is to refinance my mortgage is at 4.75 so I could go to 2.75 right now the problem is is that the mortgage is going to cost money it's a streamline VA mortgage that means that it's still cost money and if I only it's going to cost $6,000 or something I mean it cost money that's what I don't like about refinancing
It’s so clear now!!! Thanks bro 👍
I’m looking to Refinance my 2 properties. Especially because the record low interest rates.
Moral of the story is invest in commercial real estate because that stays on the banks balance sheet so that .5% fee will not apply. 🤑
Your videos are very easy to understand, thank you for breaking it down so well. Liked and subbed
Dont you have floating interest rate in US? ... plus, one thing that you need to take into account is about conveyancing cost and valuation cost ...
I like his jumping and speaking at the same time !
Option 4: refi on a 15 year at 1.99% as of this videos relaese. Take out 20k in cash and keep your $840.00 payment .
How about paying biweekly?
This is my first time watching these videos (love them). Also, I think it's hilarious how when you start from a new cut in the credible video section...you walk closer to the camera every time lol. Feels personal. Keep up the great content!!
It would be nice if you also add the actual break down cost of refinance, normally it is about $10,000 to refinance your mortgage loan. Your viewers will be better prepared to take on such an important financial step, thank you for your videos.
Generally speaking, this is a good strategy; however, I would only add that refi to a 15 might be worth it if the increase in mortgage is not that much. Also, considering a biweekly or bimonthly payment (if available) can reduce the time even more.
I did the math with my bank. Re financing now after paying the penalty will save me $300 which is about as much as the house appraisal will cost. Imagine my shock. Its like they reverse engineer the early buy out penalty or something. I dont owe a lot on the fixed mortgage anyway.
my variable rate mortgage on the other hand.....that one went down to 1.45% automatically. Glad I didnt listen to the bank and went with a variable the second time.
This scenario is a very similar to my current situation with my property..but I'm actually doing both option 2 and option 3 the only difference I got a 15 year fix ..I'm still saving money to purchase my second multi family investment
Make money with money, but make nothing tangible.
The nexus of money movers was always criminal, now they're encouraged by friends in powerful places with little regard for "the people" ... BELOW.
option 4 sell house at 300000 purchesed at 130000 = 170000 profit then rebuy
Khich ke rahko kamm. Nice explanation.
Bro this was amazing. Keep it up!!
because my original rate (3.99 from 2013) isnt that much higher than what I've been offered now (2.99, 2 weeks ago), the difference in the monthly payment is negligible. the only benefit to me is I would pay the house off 2 years quicker. so thats a benefit that i wouldnt even experience until TWENTY years from now when im in my mid 60s. and id have to stay in this house until then to experience that benefit - which im not sure i'll do. in the meantime id be financing those lender fees (about 7K!!) ....its not worth it to me
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich
EXACTLY
That's why I invest my money in Bitcoin, it's been very profitable for me.
@@gregrichard5949 your very correct Bitcoin is the future
They are profitable to invest in right now
Silver is good Crypto Better
Recently refinanced my VA home loan and dropped my mortgage by over $500 🙏🏼
Just finished a 15 year refinance @ 2.25%. Moved up an additional 8 months on my loan and saving $110 per month on mortgage. 2k in closing costs, but that’s okay. Instead of paying extra, I will be investing into a 529 for two kids for state discounts and no capital gains tax if used properly for kids education. 🤞 hope plans work out?
paying interest of 840 dollars per month for 10 years.
840*12= 10080 dollars per year
for 10 years = 1,00,800.
and still, have a loan of 129k.
total: 229k deposited
but the home value will be 300k. (This is a rough estimate) It is not increasing more than double. Maybe around 180k to 200k
So all this to pay more interest. 29k dollars for each mortgage.
For me, it isn't worth it. Maybe I was wrong.
There's no mortgage on the box I live in, under the bridge.
Sell the bridge its pure profit!
Home of the Hobo cheese sandwiches ?
or a VAN down BY the RIVER!
@@marlonestrella8105 That wouldn't be fromunda cheese by any chance?
Banks does not give you money/loan. They give you the promissory note they took from you, which is your promise to pay. Then they loan that back to you at interest. Banks don't have any skin in the game.
I remortgage my other properties and buy more and so on. Every 2 to 5 years i buy another property. Mainly commercial now. Sometimes I remortgage one and pay a lump sum of my own house.
@@stockupwithlarryjones268 is this a scam or for real
I thought about refinancing ;then, I realized that it was putting me back at the beginning of a loan where i am paying more money to the bank ;according to the amortization schedule.
I just kept my current loan and made payments on the principal on the back end of the schedule ; since the interest is tax deductible, I was ok with it.
Have you lived in the home long?
Really informative ..you just got yourself a new subscriber Sr.
Option 3 isn’t that bad like he said. 1- home credit tax deductible. 2- use money to upgrade your house. 3- investing. 4- since interest for 30 years cash out only 2.75%, Cash on hands is king. 5- must indicate when you pay extra money go to Principal Not Interest. Each individual must know what works best for you. Be sure paid off your mortgage payments 💸 at 62. Find all reasonable information to reduce Taxes and real estate 🏡 is one of them.