Mortgage Payoff Calculator: 10 Steps to Pay Off Your Mortgage Early


Our question of the month comes in from Mike:


Andy,

I saw the Business Insider article about you paying off your mortgage early.

We’re in a similar situation. With $228,000 left on our mortgage, our plan is to pay it off in 6 years. We’re looking for advice and shortcuts!


That’s awesome to hear you want to pay off your mortgage early, Mike!

You’re looking for steps, shortcuts, and advice on how to pay off your $228,000 mortgage in 6 years … Let’s do this!

Continue reading “Mortgage Payoff Calculator: 10 Steps to Pay Off Your Mortgage Early”

How We Paid Off Our Mortgage Early By Living On One Income – with Tracey Sherman-Falcon

For this month’s Mortgage Freedom series, I caught up with Tracey Sherman-Falcon from Aurora, IL. She and her husband Gandi Falcon just paid off their mortgage!

They are so thrilled with the emotional benefit of paying off their mortgage early that they are ready to pay off their rental properties as well.

As a truck driver and a food truck owner, Tracey and her husband Gandi paid off their mortgage early on a household income of less than $100,000 per year.

Continue reading “How We Paid Off Our Mortgage Early By Living On One Income – with Tracey Sherman-Falcon”

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 MORTGAGE to pay for it!

Honestly, I had been burned before. My first home purchase was a disaster. 

I bought more home than I could afford in 2004 and when the housing market tanked in metro Detroit around 2009, I owed more on the house than it was worth. I did not want to be in that position again. 

Surprisingly, when I got a look at the house Nicole found, I loved it too. It felt like home instantaneously. Even the neighbors were perfect.

We decided to go for it.

BUT… I had a few rules that we discussed to ensure we would pay off our mortgage in 5 years:

Continue reading “15-Year Mortgage Paid Off in 5 Years”

10 Compelling Reasons to Pay Off Your Mortgage Early

There are so many opinions on whether or not you should pay off your mortgage early. 

Some say that paying off your mortgage is a bad idea because you could make a lot more money in the stock market. With the bull market over the past decade, there’s a lot of truth to that. 

And others appreciate the peace that comes with not owing anything to the bank each month. The benefits that come with that freedom are hard to deny as well. 

So, what’s the right answer? 

Continue reading “10 Compelling Reasons to Pay Off Your Mortgage Early”

Ready to Pay Off Your Mortgage? Remember These 10 Important Steps

So you’re ready to pay off your mortgage?! Congratulations!

There are some important hoops you have to jump through to make this momentous occasion official. After all that hard work in paying your monster loan, let’s make sure you cross all your “T’s” and dot your “I’s”.

Continue reading “Ready to Pay Off Your Mortgage? Remember These 10 Important Steps”

Why Young Parents Should Pay Off Their Mortgage Early – with Colin Murphy

How would you like to own your home outright?

What would it feel like to never make a mortgage payment ever again?

For our Mortgage Freedom series, we’re interviewing Colin Murphy who eliminated his mortgage in less than five years. Colin is a father, a husband, and a Chicago native. He’s going to let us peek inside and see how he made this monumental feat happen.

Continue reading “Why Young Parents Should Pay Off Their Mortgage Early – with Colin Murphy”

$330,000 Mortgage Crushed in 5 Years on a Single Income – with Talaat McNeely

Today, we’re chatting about Mortgage Freedom.

Eliminating the largest debt in your life … Owning your home outright.

If you’re reading this and you’re thinking, “Well … you always have a mortgage. That’s just something you need to pay forever. No one pays off their mortgage.”

Well, I have a guest today that completely disagrees with that statement.

Talaat McNeely joins me today on the show to discuss how he and his wife, Tai, paid off their $330,000 mortgage in just 5 years. Not only did they complete this impressive feat incredibly fast, but they did it on a single income.

Continue reading “$330,000 Mortgage Crushed in 5 Years on a Single Income – with Talaat McNeely”

How Debt Freedom and Side Hustling Provides You More Family Time – with Vincent Pugliese

Complete debt freedom can allow you to do amazing things. You can pursue your passions, you can craft the direction of your day and spend more time with the ones you love.

Our guest today, Vincent Pugliese is the walking, talking proof of what complete debt freedom can do for your life.

Continue reading “How Debt Freedom and Side Hustling Provides You More Family Time – with Vincent Pugliese”

How to Celebrate Paying Off Your Mortgage Early

You’re mortgage free! Congratulations!

This was no small feat. Your hard work and dedication in paying off this massive debt should be celebrated.

But how do you celebrate something that only a fraction of the US population has done?  

My family recently paid off the $195,000 mortgage on our home and we were asking ourselves this very question. We thought about painting our front door red or throwing a party with some close friends. After some spirited fun back and forth with my wife, we landed on four fun ideas that we could do together as a family.

Continue reading “How to Celebrate Paying Off Your Mortgage Early”