Debt Reduction, Mortgage

What Will It Take To Pay Off Our Mortgage Early?

In a few weeks, we will make our first mortgage payment.  Our mortgage is a fixed-rate 15 year mortgage.  Obviously, I’m not a fan of debt – and I’m going to work very, very hard to pay our mortgage off early.  Using a mortgage calculator I calculated the following the scenarios for paying the mortgage off early – 15 years and zero months = mortgage payment + $0 extra per month 12 years and 3 months = mortgage payment + $250 extra per month 9 years and 3 months = mortgage payment + $500 extra per month 7 years and 9 months = mortgage payment + $750 extra per month 6 years and 8 months = mortgage payment + $1000…

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Mortgage

We Are Buying A House!

I cannot tell you how excited my wife and I are.  This afternoon, we are closing on the purchase of our new house! For the past several years, we have lived in a house provided by my employer.  Recently, we decided that the time was right to buy a house of our own.  (Honestly, we have been looking for more than two years, but we really got serious about it this past fall.) Early in January, we found “the perfect house” for our family.  After a few weeks of praying about it and crunching the numbers, we made an offer and it was accepted.  Going through the loan process was very interesting – and my experience should lead to some…

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