To pay off the house or not pay off the house, that is the question.

I am in a very fortunate situation of having enough cash reserves to pay off the house this instant. Of course, if I were to do that, I will have very little cash on hand. I will still not be penniless, because I still have my very modest retirement fund, but that’s not something I can rely on for my immediate needs.

I currently owe $132,504.02 on the house to Wells Fargo, at the rate of 3% forĀ a 15 year term. All things considered, I got an extremely good deal. It would have been better had I purchased a house in the middle of 2015, when the interest rates were as low as 2.875% for a 15 year term, but the house I ended up purchasing wasn’t on the market at the time. I have absolutely no regrets about waiting, because I found the perfect house.

I have been anti-debt for a very long time. I never believed that debt is the way to succeed in life. I still don’t.

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