Why We Paid Off Our Mortgage Early (w/ 3% Interest!)

With low-interest mortgage debt, does it make sense to pay it off early?
Jon from Colorado thought so. He and his family became mortgage-free in their 30’s after paying off their $150,000 mortgage in around 7 years.
Find out why Jon and his family chose to become mortgage-free even with a 3% interest rate.
CHAPTERS
0:00 Intro
2:50 Why did you decide to become mortgage-free?
4:05 What loan did you get to start this process?
5:00 What steps did you take to pay off your mortgage?
10:20 Why pay off your mortgage with such a low-interest rate?
#mortgage #mortgagefree #BabyStep6 #mortgagefreedom #paidoffhome #paidoffhouse
OTHER VIDEOS TO WATCH
Pay Off Your Mortgage Early in 10 Simple Steps
• Pay Off Your Mortgage ...
How We Paid Off Our Mortgage in 5 Years
• How We Paid Off Our Mo...
10 Incredible Benefits of a Paid Off House
• 10 Incredible Benefits...
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[@MarriageKidsandMoney]

How would being mortgage-free change things for you?

[@janebaker4912]

It would feel like a 50% pay raise! I'd travel more. Go to more shows and events.

[@MarriageKidsandMoney]

@@janebaker4912 YES! Thank you for sharing!

[@kulpatel7624]

I m just under $4000 remaining on my mortgage. Under 6 years paid off 30 years mortgage.

[@MarriageKidsandMoney]

Wow! The finish line is in your sights 💪

[@kulpatel7624]

Paid off the house. Grass feel different after the paid off house as Dave Ramsay said :)

[@halfunkbass2966]

I love the story... I paid off my house, and I still fly coach when I travel. Save money, be low key.

[@MarriageKidsandMoney]

Stealth wealth!

[@buildingbuildercip8292]

Can’t put a price on peace of mind. Good for him.

[@MarriageKidsandMoney]

Agreed! I’m so thankful Jon shared his story with us.

[@adim7056]

What a great story and journey! I live in Denver, my husband and I paid off our mortgage 3 years ago at age 29! Did it mostly for peace of mind and to provide a better future for our kids.

[@MarriageKidsandMoney]

Mortgage free in your 20’s?!?! Incredible family win 🏅

[@briansauer9893]

Andy, I just wanted to thank you for the great content! My wife and I just paid off our 30 year mortgage 20 years early! I have thoroughly enjoyed your philosophy on debt and can’t wait to start our new debt free journey! Keep it up!

[@MarriageKidsandMoney]

CONGRATULATIONS! If you ever want to share your story (like Jon did here) to inspire others, please let me know. My contact form is on my website - marriagekidsandmoney.com

[@BudgetingTheBacon]

We're down to $47,XXX on our mortgage and our goal is to knock it out by Dec 31, 2022. Very lofty goal for us considering on paper, it doesn't add up, but I have faith it shall be and opportunities will come our way (that will make it so). Love these videos Andy!!

[@MarriageKidsandMoney]

I’m so glad these videos are helping you on your journey! I’ll keep em coming. And keep us posted on your progress here 💪

[@pinkorganichorse]

Did you pay it off?

[@28gbb]

I bought a $1.2m property at 38 with $900k down and I am about to pay it off at 40 in less than 2 years. It is now worth $1.6m !

[@MarriageKidsandMoney]

WOAH! And that house is just going to continue to grow in value too!

[@MarriageKidsandMoney]

Keep us posted on your progress!

[@normsnaman]

Peace and knowing that you don't owe anything to anyone and it cannot be taken away from you is the best feeling. I still have 12 more years of payments left. Have a 30 year mortgage and trying to pay it off in 15 instead.

[@MarriageKidsandMoney]

YES! I wish you the best of luck on your journey. Keep us posted so we can give you motivation to keep pressing forward.

[@johnanastasio8647]

Nice job John!!!

[@ItsMe-ko6sz]

Andy, I love these style chats you have with people who have done it. Very motivational while still on the way to it myself. Thanks and keep up the good work 👍

[@MarriageKidsandMoney]

I’m so glad you enjoy them!

[@janefromthecountry1820]

Great journey! Peace of mind is key.

[@MarriageKidsandMoney]

Can’t put a price on it!

[@gbaho88]

Motivation 🙌🏽

[@MarriageKidsandMoney]

So glad you think so!

[@robertmorris2576]

I love all these successful stories :-)

[@MarriageKidsandMoney]

So glad to hear it!

[@tressalewis7004]

Great job guys!❤

[@MarriageKidsandMoney]

An inspiring family for sure!

[@kay203]

I wish I was 10 years older lol... 2013 property values seem so reasonable compared to now...

[@MarriageKidsandMoney]

You said it! Homeownership has become more and more difficult in our country.

[@CyrusMurphy]

Good for him if peace of mind, but still can't wrap my head around doing this considering inflation and 3% int rate... opportunity cost and all. I guess I'm more rational type. We do Airbnb our guesthouse and net 2x our mortgage so that may skew my views on this.

[@MarriageKidsandMoney]

I think if I were to get into real estate investing, getting a low interest mortgage would feel just fine for me. You are right that this is all personal. What works for one person might not work for another.

[@mikesmith1702]

wait until you're laid off and need money ...oh no problem I'll get a new mortgage or HELOC...nope sorry no income...no loan for you...don't forget to pay your every increasing taxes and repairs. The other thing I don't get is these driven, disciplined budget minded people who pay off their mortgage apparently don't trust themselves to not spend the very funds they are putting toward the mortgage if it were in a gov treasury at over 5% or a CD paying more?

[@MarriageKidsandMoney]

I would venture to bet these "disciplined budget-minded people" would have an emergency fund to cover any job loss. But it's possible they don't. Paying off your mortgage is less about it being a financially optimal decision and more of a life-optimizing decision. With fewer monthly expenses you have more options to design your lifestyle who you choose.

[@silverturd4421]

You always hear this but now I'm my own bank and no longer need loans from a bank. I'm 49 in August and retire at the end of the year.