<prompt> Human: Im sort of clueless, so please forgive me if this is a dumb question. My father buys houses and rents them out, and he pays them off ASAP. I also have an uncle that has bought a house and had a 30 year mortage. Inflation has made his house very easy to pay off now, so I asked my father why he doesnt take up 30 year mortgages and waits for the houses to be easy to pay off due to inflation.He told me that the fees you pay in interest will kill you and its best to pay off the properties as quickly as you can. So, is he right?  <response>: The other posts are correct - and the most simple answer is that if you can make better returns on that lump of cash than what the mortgage costs you, getting the mortgage may be cheaper. Paying 100,000 in interest is fine if that money has made 150,000 for you in returns.No one knows what typical returns will be over the next 30 years, however. So there is never a clear answer. 