Is that true even if you took out a 100% loan and are paying pmi? That is what I"m currently trying to decide. My non-mortgage debt is paid and we have a good sized ef. We also contribute 3% to a 401k but I'm trying to decide how to allocate the rest of the money. Some to the mortgage and more to the 401k? All to the mortgage until we can cancel the pmi? Not sure what to do.
If you threw it all to the mortgage, how long would it take you to get out from under PMI?
Can you fund about 15% of your income to the 401(k) and still have any extra left over for prepaying the mortgage?
Those questions would be relevant to my decision.