I want to pay off my mortgage at 3.58%, how bad is this decision really?
I owe just under 150 grand for my house, the tax records estimate it's just over 400. I have a loan at 3.58%, and I usually add 1,000 extra to the 1,400 monthly payments on the loan, and it will still be repaid in 6-8 years. I have about 200k in cash, and I just sit around doing nothing, and I have a job that pays well, but is very high and without any guarantee from year to year. Paying for my house takes the pressure off a guy who always feels like he has a monthly nut to chase. I know that financial gurus will give me many reasons not to pay off my loan. I know there are better opportunities to do something with this money, but the feeling of being in full possession of my home would be quite nice. In the worst case scenario, if I get into skidrow, I can sell the house or get a loan against it.