The House vs. Investment Debate- A Stewardship Approach

If I have excess funds, should I invest them or pay off my mortgage?

Personal finance is just that—personal. There’s no one-size-fits-all answer. But I think there is a wise way to think about it—and a biblical way to approach it.

Start with a simple filter I've heard Dave Ramsey use with callers on his radio show: If my house were already paid off, would I borrow against it to invest? Most of us wouldn’t. That tells you this decision is about more than math. On paper, you might earn more investing than your mortgage rate. Yes, in real life, peace of mind and margin matter more than potential profits.

Before you even get to that question, handle the basics. Pay off consumer debt—especially high-interest debt. Build an emergency fund. Invest consistently for retirement or what we often call a future funded ministry. Care for your family. This conversation is about excess funds after those priorities are in place.

From there, avoid extremes. I’ve seen people pour every extra dollar into their mortgage and ignore saving and investing altogether. That approach can leave you house-rich and cash-poor. A balanced approach is wiser—making steady progress on the mortgage while continuing to invest and build margin.

But as Christ followers we don’t stop with common sense. We prayerfully seek God’s will. These are His resources, not ours. The question isn’t just, “What works best?” but “What would God have me do?” Thus, we hold the practical filter in one hand and Scripture in the other. Ask the Lord for wisdom, clarity, and conviction.

In the end, this isn’t about maximizing returns. It’s about faithful stewardship. Align your decision with your biblical values, reduce unnecessary risk, and create margin for what matters most.

Then run it through the filter—and through prayer. If you wouldn’t borrow against a paid-off house to invest, and you don’t have peace about it before the Lord, that’s a strong signal you’re moving in the right direction.

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Steve Crawley, PhD

BMA Financial

Executive Director