oof,
i didn't take inflation into account at all; the 6-7k number came from the op. however, doesn't firecalc factor this in?
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The opportunity cost you're giving up by aggressively paying down the mortgage is (partially) the difference between that rate and whatever return you'd get if you opted to invest somewhere else.
my opinion is that, in this market, beating 5.5% is going to be tough. hence taking the guaranteed 5.5% by attacking the mortgage makes sense to me.
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If housing prices rise during the life of your loan, you will have made more by having continued the mortgage.
not sure i understand this part.
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Plus, aggressively paying down will ultimately leave you with all your equity in a single non-liquid asset class.
good point.
this seems like a good spot for a disclaimer: i'm a noob. oofrome knows more than me. i don't own a house and probably won't for the next 3-5+ years. i'm giving advice based on the data provided; someone with more time and experience and access to your full financial picture will give better advice. tails never fails. righty-tighty, lefty-loosey.