15-Year Mortgage Paid Off in 5 Years

During late 2013 while I was traveling out-of-town for work, my wife Nicole found our “forever house”.

This home had everything she was looking for including an attached garage, open floor plan, updated kitchen, walk-in closet and a big backyard on a half-acre lot. She told me that this was THE ONE and as soon as I got home from out-of-town, I had to see it.

My wife has excellent taste and the majority of the time we are in sync. I wasn’t worried about liking it. I was worried about getting a BIG OLE MORTGAGE to pay for it!

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5 Reasons to Choose a 15-Year Mortgage

3 years ago, Nicole and I moved into our forever house.  It was love at first sight.

Compared to our previous 1,100 square foot bungalow, this new tri-level home had a bigger yard, an open floor plan and neighbors that became instant friends of ours.

When it came time to choosing the mortgage, we didn’t want our dream home to turn into a nightmare.

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Keep the Mortgage for Tax Savings?

My mother-in-law, my wife Nicole and I were standing in our kitchen the other day catching up on life.  In conversation, Nicole brought up the fact that we’re one year away from paying off our mortgage and we’re excited to see what our life is like when we’re completely debt-free.  Our plans for annual vacations with the kids, starting a business and saving more for retirement all came up.

My mother-in-law was very interested in our decision and asked:

“Don’t you need to keep your mortgage for the tax benefits?”

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