By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
News as they happen
  • News
  • Canada
  • Business
  • Politics
  • Science
  • World News
  • Isness
Reading: Pros and Cons of Paying Off a Mortgage Early
Sign In
Font ResizerAa
News as they happenNews as they happen
  • News
  • Canada
  • Business
  • Politics
  • Science
  • World News
  • Isness
  • News
  • Canada
  • Business
  • Politics
  • Science
  • World News
  • Isness
Have an existing account? Sign In
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
pros-and-cons-of-paying-off-a-mortgage-early
Pros and Cons of Paying Off a Mortgage Early

Pros and Cons of Paying Off a Mortgage Early

Last updated: August 1, 2025 7:48 pm
By Anne Johnson
1 Min Read
Share
SHARE

Most lenders will allow you to pay off your mortgage early.

Owning a mortgage-free home has become a trend. Nearly 40 percent of homeowners own their homes outright, according to the National Association of Home Builders (NAHB). This is the highest it’s been in 13 years. Two-thirds of these mortgage-free homeowners are baby boomers aged 60 and over.

But is paying off a mortgage a wise move? For many, it could offer peace of mind, but there may be some financial ramifications to going mortgage-free. Knowing the pros and cons will help you make the right decision for your circumstances.

Can You Pay Off Your Mortgage?

Most lenders will allow you to pay off your mortgage early. It’s referred to as prepaying a mortgage. These types of mortgages don’t come with a prepayment penalty.

Crane Falls on Train in Thailand During China-Backed Railway Project, Killing at Least 32
Lametti Named Canada’s UN Ambassador, While Reports Say Other Top Trudeau-Era Ministers to Be Given Diplomatic Posts
‘Birth Tourism’ in Canada on the Rise Again Post-COVID, Report Says
How Canada’s Housing Supply Is Falling Short of Immigration Targets, by the Numbers
Toronto Police Release Identity of Victim Shot Near U of T Scarborough Campus
TAGGED:BrightBusinessInvestingPersonal FinanceReal Estate
Share This Article
Facebook Email Copy Link Print
Subscribe to Our Newsletter
Subscribe to our newsletter to get our newest articles instantly!

    5 + 6 =

    You Might Also Like

    senate-passes-bill-aimed-at-making-housing-affordable
    BusinessCongressReal EstateUncategorizedUSUS NewsUS PoliticsUS Real Estate

    Senate Passes Bill Aimed at Making Housing Affordable

    By Naveen Athrappully
    1 Min Read
    government-says-it-accidentally-deleted-privacy-provision-in-online-streaming-bill
    CanadaUncategorizedWorld News

    Government Says It Accidentally Deleted Privacy Provision in Online Streaming Bill

    By The Canadian Press
    1 Min Read
    iran-says-executions-may-proceed,-warns-any-attack-on-leader-signals-‘all-out-war’
    Iran ProtestsMiddle EastUncategorizedUSUS NewsWorld News

    Iran Says Executions May Proceed, Warns Any Attack on Leader Signals ‘All-Out War’

    By Jacob Burg
    1 Min Read
    News as they happen

    We influence thousands of users and are the number one business and technology news network on the planet. Newsguard delivers everything you need to know to live your best life, best tech trend, traveling passion and more…

    Categories

    • The Escapist
    • Entertainment
    • Bussiness

    Quick Links

    • Advertise with us
    • Newsletters
    • Complaint
    • Deal

    @Newsguard – Codeus Design. All Rights Reserved.

    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?