How to Pay Off a 30-Year Mortgage in 7 Years (Without Being Rich)

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.

I paid off a 30 year morgage in 12-1/2 years. I "sunk in" all extra money thst came my way and paid a double payment for a long, long, long time. It was hard but was the 2nd best accomplishment for me. (The 1st was getting through Air Force Basic training when I was 20 years old. 😅) Today - debt free let's me sleep much better at night. 🎉

The system is simple. I pay my monthly mortgage fee, what goes to the principal in that monthly mortgage fee is about a third of what I pay in total. I multiply that number by four and I add that additionally to the principal.

We did it in 14 years. We stopped vacations, eating out and snacking. Now in late 30's we feel free and can vacation or do whatever we want. Discipline, desire and patience is extremely hard and most people can't do it. We struggled. But now we are the happiest we've ever been! Thank you so much for your videos! We appreciate you!

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.

I not only pay bi-weekly but I also OVERPAY the principle. I pay an additional $125 more every payment. So as of now, my mortgage started in 2021 and I've already paid 7 years down. Once I get all my credit cards paid off I will hit the mortgage even more aggressively.

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.

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This should be taught at every high-school!!!

I am getting free of my mortgage this month! When I received bonuses I put extra money to the principle and every month I paid 200 extra principle. I am paying a 20 year mortgage in 13 years.