Curious about the amount of years left until you expect to pay it off. 
You might also enjoy...
-
Right now 27 but we're about to refinance to a 20 year! Pretty excited
-
We are 5 years into a 30-year mortgage, but regularly pay extra toward principal so we're on track to shorten the payoff time by 10-12 years. So as long as we can keep paying at our current amount, we'll have it paid off in about 15 years (or less!). We'd rather do this than refi because we got a good interest rate initially, and we haven't found a loan where the costs to refi would make sense. Also, if we ever want to back off the extra principal payments for a bit to use the money toward something else, we can.
-
We bought about 7.5 years ago, refinanced and have a little less than 10 years left. Can't wait!!
-
we are a few months into our 30 year. A long way to go!
-
We're 1.5 years into a 30 year mortgage.
-
3 years into our 15 year mortgage.
-
2 months into a 30 year loan...gulp...
-
11 months into a 30 year.
-
Down to 15, woo!
-
Three and a half years into a 20 year, but on track to pay it off at least two years early.
But we are also looking to downsize to a house we could pay off in 10.
-
We are less than 2 years into a 30-year loan. We will very likely pay it off sooner but we are not planning for that yet. Alternately, we would downsize in less than 30 years- I'm already thinking of the kind of home I'd like for just the two of us and our second child isn't even born!
-
We are 3 years into a 25 year mortgage. I hope we aren't paying for that long!
-
We're 9 years into a 25 year mortgage but with the extra payments we've made we've got 12 years left.
-
@erinbaderin: How do you figure that out? I mean, how do you figure out how much is left, if you make extra payments? I am terrible with math
-
5 years in to a 30 year but we hope to build in the next 2-3 years and the clock starts over.
-
I think we have 12-13 years left. We refinanced a few years ago to a 15 year loan, so we should be done before the kids start college!
-
We just refinanced to a 15 year loan in September, so we've got around 14.5 years left. Really excited that we refinanced when we did...we have one of the lowest interest rates I've heard!
-
We are 2 years into a 30 year loan. But we pay $500 extra a month so we'll pay it off earlier than that. We considered a 15 year loan but the rates were/are so low that it made more sense to just do the 30 year and have financial flexibility. If we want to pay big chunks towards the principal, we can. In times like now, when the stock market is on an upward tear, we'd rather have our money to invest since already, in less than the first quarter of the year, we're up more than the interest rate on our mortgage.
-
Well we are waiting for our new basement to be dug this week...so we are starting all over. Starting with a 30 year mortgage which we hope to have paid off in 20.
-
Only 9 years left on our 15 year mortgage!!
-
My husband is trying to get it paid off in the next 4-6 years. We bought 3.5 years ago.
-
We are only about a year and a half into a 30 year. We won't live in this house for 30 years so we don't think about paying it off earlier. We do pay a little extra every month though.
-
@ValentineMommy: there are a lot of calculators online. You can try this one. http://www.daveramsey.com/blog/mortgage-calculator#/entry_form
-
26 years. I can't understand how anyone can do a 15 year or 10 year. Y'all must have A LOT more $$ than we do!! Wow! Or live in a lot less expensive area I guess
-
We are almost 6 years into a 30 year loan. We have paid extra on the principal every month though so we've got less than 20 years left. The goal is to have our mortgage paid off before we retire. We plan to move once more and will likely buy a slightly bigger house.
-
@travellingbee: Hahaha! Definitely not a lot more money, we definitely are working/middle class! But I also live in a very low cost of living area, and found a house for only $77k! So the difference in our monthly payment was $100 to get a 15 yr vs. a 30yr mortgage. The decision was pretty much already made for us!
-
We're half way done on a thirty year.
-
@travellingbee: I live in high cost of living area but we bought smaller than we could afford (just what we need) and can save a lot. We are not rolling in dough and I do watch our outflow and budget carefully. Also we have a low interest rate so that brings payments down. And if you do a 15 year your rate drops even lower.
@valentinesmommy: google extra mortgage payment calculator -
@2PeasinaPod: I was just looking at where rates are at in September and it makes me feel sick that we didn't refinance then (refinancing now).
I was worried about appraising high enough and now it turns out we don't even need an appraisal. But glad you got in on the great rates!!!
-
29 years
@travellingbee: agreed!! we live in a HCOL city and it seems impossible to pay it off any faster. esp w childcare costs, its basically another mortgage payment! i feel like we make a good amount of income too but in this city its like pennies. haha bleh
-
We are 1.5 years into a 30 year mortgage. We live in the county with the highest property taxes in the country so I don't see us paying off our mortgage any earlier unfortunately.
-
We're 6.5y into a 30 year. With daycare no way to pay extra now but in a few years I hope we can speed things up and maybe even consider refinancing.
-
@MrsBrewer:
That's amazing!! Some large SUVs cost almost that much!! That is awesome to live in such an affordable area. That makes a HUGE difference.
-
@mamabolt: Yeah, we pay even more for childcare than we do on our mortgage but thankfully that won't be forever. I doubt we'll pay down more on our mortgage though since we have a low interest rate and can get better returns investing.
-
@travellingbee: Don't get too stressed, there are a lot of factors that contribute to the differences. A big one is that you can't always just look at the number, you should look at the percentage. For example, just because someone has a smaller loan amount than you do doesn't mean it is more affordable. Their salaries could also be lower, so they might actually be paying the same percentage of their income to their mortgage as you.
We're also all at different stages of our earnings careers, so the numbers can be all over the place. It helps me not to freak out if I think about it this way.
-
@MrsBrewer: This is insane! I can't believe there are even houses for 77K! I'm just glad we bought a couple years ago, house prices here have sky rocketed and our house has gone up in value by at least 300K. We couldn't afford to buy now.
We've got 15 years left if we keep paying it off at an accelerated rate. All up it would be about 19 years.
-
@travellingbee: I feel you! Daycare for two kids will be way more than our mortgage!
-
We took out a 30 year back in 2014...we plan to execute a major renovation in 2019 or 2020 - at that time we'll drop down to a 15 year mortgage.
Our goal is to have it paid of near when our girls start college!
-
@travellingbee: @Banana330: Believe me, it was a complete steal when we bought it. It was an old woman who was moving to hospice care, and her kids were selling asap so we scooped it up! It needed a good amount of work (new bathroom, new roof, furnace) buuuttt....the price made up for it! It's worth double that right now!
I was worried about appraising high enough and now it turns out we don't even need an appraisal. But glad you got in on the great rates!!!
That's amazing!! Some large SUVs cost almost that much!! That is awesome to live in such an affordable area. That makes a HUGE difference.
Subscribe to our newsletter
- Google Plus
- Stumbleupon
- Twitter
- Facebook
- Pinterest
- Favorite0
41 comments