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.

Montreal’s Transit Agency Says Too Expensive to Display ‘Go Habs Go!’ Before Winter
Senate Votes Down Resolution Seeking to Halt Trump’s Use of Military Force Against Cartel Boats
Amazon to Pay $2.5 Billion to Settle FTC Claims Over Deceptive Prime Enrollment
Federal Government Considers Raising Deposit Insurance Limit to $150,000
Concordia Student Raises Question Over Student Union Handbook Featuring Palestinian Protests, No Canadian Flags
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

    china-threatens-papua-new-guinea-over-defence-pact-with-australia
    Asia & PacificAustralia NewsGlobalUncategorizedWorld News

    China Threatens Papua New Guinea Over Defence Pact With Australia

    By Owen Evans
    1 Min Read
    ‘not-in-the-best-interests-of-canada’:-business-coalition-pushes-back-against-premiers’-call-for-deeper-trade-ties-with-china
    CanadaChina NewsChinese InterferenceChinese RegimeFeatured Canadian NewsTop Canadian NewsUncategorizedWorld News

    ‘Not in the Best Interests of Canada’: Business Coalition Pushes Back Against Premiers’ Call for Deeper Trade Ties With China

    By Carolina Avendano
    1 Min Read
    israel-expands-gaza-operations,-sends-tanks-into-city-of-deir-al-balah
    Middle EastUncategorizedWorld News

    Israel Expands Gaza Operations, Sends Tanks Into City of Deir Al-Balah

    By Guy Birchall
    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?