I did! But not for long. I took out a 15 year at 3% when I was 54, have two years of payments left on it and retired at 60. I get the math and understand the so called "advantages" but don't care to have it any longer than I absolutely have to and am on track to pay it off 3 years early. The advantage of turning my 15 year into a 12 year is that I'll own my home outright and know I'll never pay interest again to anyone for anything. The difference between whatever I would have made in market returns versus the 3% will have no impact on my financial future and I hate giving banks my money.I am 60 years old and have a mortgage on a house we bought two years ago.
I have read of the advantages of keeping a low-rate mortgage, but how many here actually do that once they are retired?
Statistics: Posted by 260chrisb — Tue Oct 07, 2025 6:08 pm — Replies 38 — Views 1668