Originally Posted by
TiredSoul
On a 30-year mortgage of $425k you’ll pay $195k in interest over the duration.
https://www.bankrate.com/mortgages/a...on-calculator/
That requires an additional $500/month investment over 30 years at 6% with 3% inflation.
Just using online calculators I’m a complete noob as far as Finance is concerned.
I’m sure there’s a break even point somewhere where it does/does not make financial sense to pay off.
2.25% is that fixed?
Yeah, the catch is I have to be investing what I would otherwise be using accelerating the mortgage payoff. We max out both HSAs, 401k (pre-tax amount), and do a backdoor roth conversion in IRAs. The next goal is to max out the total allowable ~$61k contribution to 401k somehow. Once I'm doing all that, I will worry about paying down the mortgage--if I have any spare cash
Yeah, it's 2.25% fixed and no PMI on a 95% LTV loan. (Navy Federal CU)