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Who this applies to
Homeowners comparing a full payoff of a fixed-rate, fully amortizing mortgage with retaining the loan and investing. You need sufficient funds after protected reserves. Variable-rate, balloon, partial-payoff and tax-complex cases need a comprehensive model. The original payoff and new-home purchase modes remain available separately.
Why this matters
Paying off debt can reduce required monthly payments and increase home equity, but uses liquid funds. Keeping investments leaves more money accessible and exposed to market risk. Compounding and possible tax benefits do not guarantee that assets will cover the mortgage. Peace of mind matters too.