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that is a major IF, the loan rate is indeed very low, and if it were fixed, then I'd keep the debt, but it's not fixed. it can balloon to 10+ and you would be royally screwed, and I dont know the details of the loan.... the exact strategy would be to pay low debt until the balloon happens, but then you can forget...... investments can go down, it's not exactly foolproof.If you can get a better investment rate than the interest rate you're paying you're better off doing that then paying the sum when it goes up or remortgage at that point.
I would start maxing out roth 401K's for the next two years, max out IRA, max out HSA to avoid taxation, and see how far that money goes, can you sustain, probably, and then invest a good portion to see if you can get returns to pay off the mortgage right before it blows up.