If so what hacks or tips did you use? How long did it take...
Most Helpful Opinions
Paid off two.
One took 12 years, the other 7.
Get a good job. Find the best place (location/price/area/neighborhood) that's in your price range.
Make the largest monthly contribution to the principal that you can afford w/o going into debt or starving.
Make it a habit to live simply and thriftily and have a list of priority items. Shop for them at second-hand stores and yard sales, drive used cars.
Its easier than you may think.
Seek out Dave Ramsey for more info.12
Our house was paid off within 5-10 years but around 60% of the money for paying it off came by selling the property we owned before moving in, we currently have investment properties that are not fully paid off because your taxes are higher when you don’t have active debts so we are delaying paying it off to lower property taxes.0
We just bought our new home two years ago, so not even close.0
What Girls & Guys Said
I've only just got a new mortgage, 29 years. But I plan on making overpayments, ideally want to pay it in 20 years. Even a small overpayment can knock off time and save a lot in interest15
It really depends on what interest rate it carries- if it's high, make extra payments over time.18
I did a long time ago. I worked about a five year stretch with a lot of overtime back over ten years ago, and then paid off the mortgage.11
I paid off my home mortgage about five years ago. Towards the end I was making double payments on the principal and when it was down to about 5K I just wrote a check and paid it off. A year ago I paid off my vacation home I basically did the same thing it is great being debt free.0
Not yet but soon. It's just consistant high payments. My economy will be vastly different in about two year when I am predicted to be dept free.0
Just wanna say hii cuz. Ur dm is locked for some reason0
We still have ten years to go.0
How long is your mortgage?0
I've paid off two mortgages (I own two homes) in approx. 23 years. Making one extra payment per year (or adding the equivalent amount of cash (1/12 of a full payment) each month shortens a 30-year mortgage by around five years. Additional payments, which should be clearly identified as being paid to the principle (otherwise the money might be deducted from next month's payment) can further shorten the length of your mortgage.
Owning your home (or homes) outright gives you a feeling of security that is unmatched- it is YOUR home, and not the lender's.
Wow 2 homes that's amazing!! Happy you were able to achieve that. I will def be looking into sending more so that I can get rid of it. Thankfully my payment is only 685 but sending more will be smarter
Not having a mortgage meant that I could accept an early retirement offer. It wasn't planned that way, but the stars aligned, and I retired.
God is good! How awesome. I would love to retire already