Is it possible to pay off my mortgage loan early?

Is it possible to pay off my mortgage loan early?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Is it possible to pay off my mortgage loan early?; Is there a penalty for paying off my mortgage loan early? and more...

Yes, it is possible to pay off your mortgage loan early. If you were one of my clients, I would try to talk you out of it. The reason is: why would you? Let's say you have a house that's worth $500,000 and you owe $300,000. If you want to pay the whole thing off and the rate that I gave you is at 5%, why don't you go use that $300,000 (that you were going to use just to pay off the mortgage) for investment opportunities; lend private money, make development deals, buy stock, buy bonds, and make a much higher rate of return on your money?