I am being constructive.Admiral wrote: ↑Wed Jun 09, 2021 8:48 amKlang:KlangFool wrote: ↑Wed Jun 09, 2021 8:35 am Folks,
A) When you asked the wrong question, you would never get the right answer!
Why would you consider the mortgage a burden to you? If it does, why are you buying the house?
I bought my house at price X a few years ago. My portfolio excluding the house is at 2.5X. The PITI of the house is 20% to 30% lower than the market rent. I enjoy paying my mortgage. My house is cheap enough that I save money every month. And, I can pay off the house at any time.
B) My peers bought too much house. Hence, the mortgage feels like a burden to them. Then, they compounded their mistakes by not maxing up their 401K. They pay 20+% to 30+% taxes in order to pay down their mortgage. Then, when their kids go to college, they took a more expensive student loan for their kids.
If they are lucky and continuously fully-employed until retirement, they have the house and not much else. If they are not, they may lose everything.
KlangFool
What’s the point of finger-wagging at those who have already purchased their home? We are attempting to help the OP for their situation, not preach to those who are house hunting.
The OP is not going to sell their home and buy another based on your particular requirements.
Let’s try to be constructive at least with our advice.
If someone bought too much house, please do not compound the mistake by
A) Paying too much taxes in order to pay down the mortgages
B) Pay down or pay off the mortgage and then take a more expensive student loan.
KlangFool