Fixed vs Variable: Does It Change How Fast You Can Pay Off?
Published on October 18, 2024
Many homeowners believe a fixed rate is safer, but does it slow down your ability to pay off your mortgage? This article explores the relationship between rate type and payoff speed. We’ll discuss how the cashflow method works with variable-rate HELOCs and how the interest savings often outweigh the risks of rate fluctuations.
Table of Contents
The Perceived Safety of a Fixed Rate
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The Hidden Cost of Inflexibility
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How Variable Rates Work with a Payoff Strategy
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Modeling Rate Changes: Does the Strategy Still Win?
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Conclusion: It's About the Engine, Not Just the Fuel
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Educational only, not financial advice. Estimates vary by spending patterns and lender terms.