Why Your Mortgage Should Be Built Backward From Your Exit Strategy

Most people choose a mortgage by looking at what works today.

What rate can I get?

What payment can I afford?

How much will the bank approve?

Those questions matter. But they’re only part of the mortgage decision.

A mortgage is rarely going to stay exactly the same for the next 25 or 30 years. You may sell your home, move, refinance, access equity, buy an investment property, receive a large increase in income, or approach retirement.

So instead of asking only:

“What’s the best mortgage for me today?”

A better question is:

“Where am I likely going, and how should my mortgage be structured to help me get there?”

That’s what we mean by building a mortgage backward from the exit.

The Burn Your Mortgage Podcast: Soft Saving and Loud Budgeting with Lesley-Anne Scorgie

In my interview with Lesley-Anne, we discuss what LA is writing about right now, considerations when upsizing houses, what are people doing with their careers to afford houses and what are the money hacks to own a home sooner.