how long till your mortgage is paid off?

[longbow]

I just looked at my most recent statement I'm down to 47 months! how long do you have?

 

[hoosierdoc]

I just looked at my most recent statement I'm down to 47 months! how long do you have?

Congrats! That will be a nice position to be in. I am at around 13 years but hope to do it sooner. 2.875% and a 15-year note really knocks the balance down quickly. Only two years in our principal is more than double what the interest payment is I think.

 

[sgreen3]

10 years left here

 

[eldirector]

I'd need to do the math. I know it was a 30-year note, signed about 9 years ago, and we have less than 10 years left if we went BACK to the minimum monthly payment. Closer to 5-7, at our current over-payment.

 

[jagee]

It was a 15 year loan a year or two ago, but I have been paying ahead...so I don't know for sure.

 

[Leadeye]

0

 

[SkinNFluff]

Paid it off in February.

 

[Jeepster48439]

Bought a condo cash 3 years ago. Sold the house in January. Boom.... No more mortgage.

 

[17 squirrel]

No mortgages.

 

[CampingJosh]

I'm in a weird zero rent, zero ownership situation. I work for a camp, and while I have the job I am required to live in the house here.

After we finish paying for Wifey's graduate school (cash flow), we'll be saving money for an eventual home purchase. We're intending never to have a mortgage.

 

[Thor]

-4 years. Cars included...no debt...it's a GREAT thing. We pay off the credit cards every month, they are for convenience only.

 

[hoosierdoc]

I'm in a weird zero rent, zero ownership situation. I work for a camp, and while I have the job I am required to live in the house here.

After we finish paying for Wifey's graduate school (cash flow), we'll be saving money for an eventual home purchase. We're intending never to have a mortgage.

Wait, I heard it's impossible to pay cash for a degree and everyone has a mortgage!? You mean you can adjust your lifestyle and do it?

+1 to you and yours!

 

[Mark 1911]

About 6 years to go for me. I have two vehicles, both 2009 models and both currently paid off. Expect another 5 years of service out of the one with the most mileage, and two or three more years from the other car because it gets used less.

 

[CindyE]

Well... I hate to admit, ours was paid off for a couple of years, but we ended up taking out a home equity loan for about 1/2 the home's value, so now we have about 8.5 years to go.

 

[HoughMade]

I was down to about 6 years....then I bought my "dream house". Don't like to think about it now. All I'll say is- not as long as the paperwork says.

 

[hoosierdaddy1976]

Going through a refinance as we speak. Hope to go from 22 years to 15 and cut $80 a month, though we plan to keep sending the same amount.

 

[bmbutch]

13 years, but plan on selling my "mid life crises toy" & using that to increase my monthly principle payment. Toy = '12 Mustang GT Premium 6-speed, 4,500 miles. It's fun & fast, but would rather pay off house early.

 

[CampingJosh]

Wait, I heard it's impossible to pay cash for a degree and everyone has a mortgage!? You mean you can adjust your lifestyle and do it?

+1 to you and yours!

It'll be a lot easier to save for a house when she's working her new job. Despite getting a ~$35,000 increase in household income, we intend to make basically zero lifestyle changes for at least three years. That should get us pretty close in a hurry.

Are you looking to hire an RD beginning in January 2016?

 

[hoosierdoc]

Are you looking to hire an RD beginning in January 2016?

are you calling me fat?!

seriously, we don't use them in the ER, possibly network wide though. Start looking early!

 

[Que]

About 12 years left, I believe, but we will only pay three of the 30 out of our pocket.