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Should I put my Mortgage overpayment into BTC instead?
I am a BTC noobie, I bought some in January this year, and then I bought some more, I have about 0.21 BTC right now. I also have a mortgage that I have been significantly overpaying every month since I've had it (since 5/2021), to the tune of $2500 extra every month. My APR is 2.99%. At this rate I'll have it paid off in 4.5 yrs, saving about 20yrs of payments and about $160K of interest. But now I'm thinking it might be wiser to divert some or all of that overpayment into BTC, given the expected rate of growth over the next (10?) yrs. If I stop my overpayments next month, I'll have payments for ~16 more years (not 4.5 yrs) and I'll end up paying ~$50K more in interest. However that extra $2500 every month invested in BTC in that same time, depending on the growth rate, could get me ~1 BTC, or more. Technically at some point if BTC does well, I could sell some and just pay off the mortgage far 1-2 yrs earlier than my current projected maturity date...or just hold the BTC depending on the value. What would you do? If you had $2500 spare cash per month, would you dump it on your mortgage or put it in BTC, or a little of both? submitted by /u/LehighLuke [link] [comments]
I am a BTC noobie, I bought some in January this year, and then I bought some more, I have about 0.21 BTC right now. I also have a mortgage that I have been significantly overpaying every month since I've had it (since 5/2021), to the tune of $2500 extra every month. My APR is 2.99%. At this rate I'll have it paid off in 4.5 yrs, saving about 20yrs of payments and about $160K of interest.
But now I'm thinking it might be wiser to divert some or all of that overpayment into BTC, given the expected rate of growth over the next (10?) yrs. If I stop my overpayments next month, I'll have payments for ~16 more years (not 4.5 yrs) and I'll end up paying ~$50K more in interest. However that extra $2500 every month invested in BTC in that same time, depending on the growth rate, could get me ~1 BTC, or more.
Technically at some point if BTC does well, I could sell some and just pay off the mortgage far 1-2 yrs earlier than my current projected maturity date...or just hold the BTC depending on the value.
What would you do? If you had $2500 spare cash per month, would you dump it on your mortgage or put it in BTC, or a little of both?
[link] [comments]
