I have 320k mortgage and interest is 6.99. I have some 100k ish money at hand now. I want to pay to the principal. However I think the interest rate shouldn’t be this high in the near future and I am waiting for the interest rate get down enough to do refinance. As I know, once I do refinance, the mortgage payment clock will be re-set. I am wondering should pay the 100k to principal now or wait after I do refinance. Any advice will be appreciated. My mortgage agent told me as most of other agent that I should invest the money and don’t pay to mortgage principal. But we still want to pay off the mortgage as early as possible
original posted by muddyyman to r/personalfinance on Fri, 22 Mar 2024 11:44:11 GMT.