I paid off my house! While it feels surreal, this video is sharing exactly how I paid off my mortgage in under 5 years (June 2017 - March 2022). We also look at 4 key steps I took in order to pay off my home during this period.
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This video details the changes we made to our finances and lifestyle that enabled us to attain this goal, which might seem challenging but definitely possible. We hope to inspire and guide those who wish to embark on their journey towards mortgage freedom.

In the video, we share four significant changes we made to our finances that helped us achieve this milestone. We also debunk some common misconceptions about paying off mortgages and discuss why sometimes, taking the less traveled path can lead to financial freedom sooner than expected.

Contrary to some high-earning individuals who share their success stories, our journey was not born out of earning a huge salary. We had a typical household income that varied from $60,000 to six figures, and our home was worth over $400,000. What led to our success was not just about money, but about making the right choices and using strategies that we discuss in the video.

We delve into the risk factors of having a mortgage, such as job loss, and how this impacted our decision to pay it off early. The video breaks down the debate of investing in stocks vs. paying off the mortgage, explaining our thought process behind choosing the latter.

Our journey involved strategic refinancing of our mortgage and meticulous tracking of our loan schedule. We emphasize the importance of understanding your mortgage details like interest rates, the impact of extra payments, and the amount of total interest you could end up paying if you stick to the regular payment schedule.

We share our personalized approach of saving up for additional principal-only payments, which significantly reduced the life of our loan and total interest paid. We show the impact of even minor extra payments on the overall mortgage timeline.

We also discuss a unique strategy we used called a 'no spend month', where we avoided any unnecessary expenses for an entire month, pushing all the saved money towards the mortgage. This method, although challenging, helped us accelerate our mortgage payoff process.

If you're contemplating paying off your mortgage early or are already on the journey, this video could be your comprehensive guide and motivation to keep pushing. We hope that by sharing our journey, we can help you navigate your own path towards mortgage freedom.

Chapters of Today's Video on How to Pay off your Mortgage Early
00:00 Mortgage Free!
00:48 The Financial Journey Start
01:17 Crazy Idea to Pay off the House
02:22 Original Projected Payoff
03:14 $200K of INTEREST??
04:05 Step 1 - Saving Money
05:20 Adjusted Payoff in 2030
05:58 Refinancing the Mortgage
06:44 $200k Interest to $27,000
07:18 Step 2 - No Spend Month
08:21 Step 3 - Budget like a Beast
08:54 Step 4 - Limiting Overhead
09:39 A New Level of Side Hustles

In this video, I'm sharing with you my journey of paying off my mortgage in 5 years! If you're thinking of doing the same thing, then you need to watch this video!

My goal was to pay off my mortgage as quickly as possible, and I did it by following a few simple guidelines. By the end, I had reduced my monthly payments by over $1,000 a month! If you're looking to make a similar financial journey, then you need to watch this video!

*Disclaimer: Bob is not a financial advisor. Please contact a professional financial advisor prior to making any decisions. Some of the links and other products that appear on this video are from companies in which Bob Sharpe earns an affiliate commission or referral bonus. Bob Sharpe is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

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