Quote:
Originally Posted by CroFlames
So looking back, I've never lived in a place longer than 5 years and never renewed a mortgage. Mine is coming up in 2026 and I am not moving.
My question is at the time of renewal, do people dump lump sums towards their principal? I'd like to take a bigger bite out of it when I renew, but not sure money nerds would agree that makes sense.
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I'm somewhat of a money nerd myself (.jpg), and generally no it doesn't make financial sense to dump money on your mortgage, assuming that you would otherwise use the money for investments.
I did it anyways at renewal, because the thought of having it entirely paid off just feels good, dammit.