HOW TO PAY OFF YOUR MORTGAGE EARLY
- Feb 1, 2026
- 1:49
- Short
David Bach explains that one of the most common financial mistakes is waiting too long to pay off a mortgage. He says the decision starts with your interest rate.
If your mortgage rate is low, it may make sense to invest extra money elsewhere. But with higher rates, paying down the mortgage faster becomes an easy decision. He points out that even one extra payment per year on a thirty year mortgage can shorten the loan by several years.
Would you prioritise paying off your mortgage or investing extra money right now?
Brief Summary
David and Stephen discuss strategies for paying off mortgages faster and the importance of interest rates in financial decisions.
Key points
- Paying Off Your Mortgage Early. Making one extra payment a year can significantly reduce your mortgage term.
- Automate Your Payments. Setting up automatic payments can help you pay down your mortgage faster.
