Mortgage Calculator Decision..Prepay or Invest
December 30th, 2006Figuring out whether to invest or to pay down debts is tricky. A mortgage calculator can show you how much your monthly payments would change if you replaced several debts with either a home equity loan or a new mortgage. If you have a large amount of debt, then refinancing to get control of debt should probably be your first move. If the interest rate on any loan is over 20%, then for most of us it is better to pay it off than to invest the same amount of money.
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