How to Pay Off a 30-Year Mortgage in 7 Years (Without Being Rich)
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Top Comments (10)
I’m on track got 4.8 years! Using dividend, investments and no money down! 352k, 6.12%. Making extra payments monthly!
The TLDR for this entire video is just pay extra towards principle throughout the year. If you can come up with extra money, put it towards your mortgage if you feel like it. But there’s no hack to make things go faster. It’s math. It’s just putting extra money towards the payments at an expedited rate that’s it. The only hack is making more money. Or spending less money on other stuff.
Lowering expenses is an investment in freedom.
I am locked in at 2.6%. I will never pay it off 😂
Make "principal only"payments.
We paid off our twenty year mortgage in eleven years and nine months. That was a few months before the 2008 GFC. It was beautiful timing. We paid twenty dollars more each month for the first year and added twenty dollars a month each year afterward. So, $20,$40,$60 per month for the first three years, and so on. My logic was that if we were renting, we’d have paid more each year without owning anything. Back then, the expenses were lower and so was the home but I would do something similar if I were to need it for current expenses.
I made over 500k this year ...i absolutely need to find some assets or business next year to mitigate my taxes. I'm dedicating next year to doing just that. I can't be paying all these
It's so crazy how many people don't know of mortgage recasting. These are the types of things that should be taught in schools so that you can help better your life as an adult. Instead, the banks leverage ignorance to their advantage.
Join Market Briefs (my newsletter for investors) free! https://briefs.finance/8befcf WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
What I did every month was send an extra check and in the memo said "for principal only" call your bank to make sure this is the way to properly do it. My payments were gradually lowered and I paid off my mortgage early this way.
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Top Comments (10)
I’m on track got 4.8 years! Using dividend, investments and no money down! 352k, 6.12%. Making extra payments monthly!
The TLDR for this entire video is just pay extra towards principle throughout the year. If you can come up with extra money, put it towards your mortgage if you feel like it. But there’s no hack to make things go faster. It’s math. It’s just putting extra money towards the payments at an expedited rate that’s it. The only hack is making more money. Or spending less money on other stuff.
Lowering expenses is an investment in freedom.
I am locked in at 2.6%. I will never pay it off 😂
Make "principal only"payments.
We paid off our twenty year mortgage in eleven years and nine months. That was a few months before the 2008 GFC. It was beautiful timing. We paid twenty dollars more each month for the first year and added twenty dollars a month each year afterward. So, $20,$40,$60 per month for the first three years, and so on. My logic was that if we were renting, we’d have paid more each year without owning anything. Back then, the expenses were lower and so was the home but I would do something similar if I were to need it for current expenses.
I made over 500k this year ...i absolutely need to find some assets or business next year to mitigate my taxes. I'm dedicating next year to doing just that. I can't be paying all these
It's so crazy how many people don't know of mortgage recasting. These are the types of things that should be taught in schools so that you can help better your life as an adult. Instead, the banks leverage ignorance to their advantage.
Join Market Briefs (my newsletter for investors) free! https://briefs.finance/8befcf WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
What I did every month was send an extra check and in the memo said "for principal only" call your bank to make sure this is the way to properly do it. My payments were gradually lowered and I paid off my mortgage early this way.