Have a mtg, but am growing cash in an “offset” savings account. When the accumulating cash equals the declining mtg balance, BAM! I’ll pay it off. Sure, I could just put the extra cash against the debt and save some mtg interest expense, but I just don’t think now is a good time to lose that liquidity. YMMV.
I wish I had done mine this way. I dumped money to the house (still funded my retirement) when I could have invested it in mutual funds during the longest bull run in market history. Hindsight makes it an easy decision but I guess I am not complaining to not have the mortgage. Could have had it paid off sooner had I invested the extra instead of just putting it on the mortgage.
