Should I pay down my mortgage every month and try to pay off my mortgage? There are different schools of thought and the right decision depends on your financial situation. It used to be that your parents would tell you to pay down your mortgage as fast as possible. You can be debt free and no longer have monthly payments. It’s more complicated than that. With today’s low mortgage interest rates, you may get a higher return on your money in other investments or perhaps you need a tax write off or you can use your money to leverage to buy other properties.
