Have extra cash? Should you invest it or use it to pay down your mortgage? When you pre-pay part of your mortgage, you end up paying less in interest. But as a result, you also lose part of your mortgage-interest tax break.
Your true savings, then can be expressed as the difference between your mortgage interest rate and the rate at which you take your deduction (a function of your total marginal tax rate). If that net percentage figure is less than the amount you could make investing the cash, you might be better off investing it. Talk to your financial adviser! If in fact you determine you would be better off investing your extra cash, let's talk about finding you some real estate investments to supplement your portfolio!
Give me a call!
Realtor Ken - Keller Williams
727.510.1624 cell
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