5 Key Ways to Pay Your Mortgage Off Faster




Couple Money Podcast: Build Your Marriage and Wealth Together  show

Summary: Want to be completely debt free, including your house? Find out the key changes one couple made to pay off their mortgage in less than 5 years! <br> Pay Your Mortgage Off Faster<br> What would you do if you owed your home free and clear like Andy does now?<br> With no mortgage payment what options would open up?<br> There’s a good chance you’d love to get rid of your mortgage, but the idea of getting rid of such a huge amount makes it seem impossible.<br><br> Forget paying it off in 5 years, you may struggle to even see a way to reduce it in half.<br> Right now <a href="https://www.thebalance.com/average-monthly-mortgage-payment-4154282">median purchase price of a home here in the United States is $235,000, with 10% down</a>. Now if you<a href="https://www.experian.com/blogs/ask-experian/how-much-americans-owe-on-their-mortgages-in-every-state/"> live in D.C. you’re looking at $400,000 with my buddies in Cali close behind at around $350,000</a>.<br> Not cheap. Probably the biggest purchase you’ll make.<br> Which is why I asked my buddy and <a href="http://www.marriagekidsandmoney.com">Marriage, Kids, and Money</a> creator, Andy Hill, to come on. He’s an awesome guy, really excited to get couples closer to their debt free goals.<br> We both know that not everyone can replicate what Andy and his wife Nicole did – we all have different circumstances – but there’s a lot to their process that could make all the difference with you and your home.<br> In this episode, we discuss:<br> <br> * why they were adamant about knocking out their mortgage in 5 years<br> * steps that made the difference with paying off their mortgage<br> * tools to help you be debt free faster<br> <br> Hope you enjoy!<br> Speaking of Andy, we’ve teamed up with friends on a free Facebook community called <a href="https://www.facebook.com/groups/FamiliesThriving/">Thriving Families</a>.<br> It’s a fun group where we share our wins and ideas with each other on how to thrive as a family. <a href="https://www.facebook.com/groups/FamiliesThriving/">Come join us</a>!<br> Resources to Dump Your Mortgage Faster<br> If you’re looking to dig in deeper for ways to pay your mortgage off faster, here are some resources to check out:<br> <br> * <a href="https://www.daveramsey.com/blog/mortgage-calculator/">Mortgage Payoff Calculator</a><br> * <a href="https://couplemoney.com/mortgages/paying-off-your-house-early/">Paying Your Mortgage Off Early</a><br> * <a href="http://www.enemyofdebt.com/paying-off-the-house-wasnt-our-1-priority-but-we-did-it-anyway/">Paying Off The Mortgage Wasn’t Our First Priority (but we did it anyway)</a><br> * <a href="http://www.marriagekidsandmoney.com/5-reasons-to-choose-a-15-year-mortgage/">5 Reasons to Choose a 15-Year Mortgage</a><br> <br> And if you two are looking for more ideas on how to find, save, and make extra cash to pay down or debt, please sign up for my <a href="http://couplemoney.com/5k">free 5 Days to $5K course</a>.<br> It’s a week-long special email series that will help you get some extra money in.<br> Thank You to Our Partners<br> Support for this podcast comes from partners like Personal Capital. Easy to set up &amp; easy to use. You can have all your investments, income, and expenses all pulled into one place.<br> Easy to set up &amp; easy to use. You can have all your investments, income, and expenses all pulled into one place.<br> Did I mention it’s free? Why don’t you<a href="http://couplemoneypodcast.com/pc"> give Personal Capital a try today</a>?<br> Music Credit<br> Like the music in this episode? Our theme song is by <a href="https://www.youtube.com/user/gentleregime">Gentle Regime</a>. I also want to thank <a href="http://freemusicarchive.org/music/Lee_Rosevere/Music_For_Podcasts/">Lee Rosevere</a> for music in this episode.<br>