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				>> View More Samples | Early Loan Payoff Early Loan PayoffEven with todays low interest rates, the total amount of interest you may pay over the life of your mortgage can seem like an enormous amount. It's one of the reasons many people set a goal to pay down their mortgages early. Here are some reasons to consider it:Paying your mortgage off may make you completely debt free.You want to reduce expenses as much as possible so you can put more money into your    retirement fund.You live a country, such as Canada, where you do not receive a tax break because you          carry a mortgage.You pay private mortgage insurance (PMI). If you have less than 20 percent of equity in your             home, making extra payments will build more equity sooner, allowing you to cancel your      PMI. And eliminating PMI will reduce your monthly payments. However, for some, paying your mortgage off early can hurt you more than help you. Here are reasons to forego pre-paying your mortgage:Your mortgage contract includes prepayment penalties.You have other high-cost debts. Credit card interest rates are often more than twice that of   most home mortgages. Any extra cash should go toward paying off the balance of those     first. We'd love to help you find the right loan, contact us today! 
 
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