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Channel: Comments on: How to Pay off Your Mortgage Early
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By: Canadianbudgetbinder

Hi Mariane, That’s great that you were able to pay off your mortgage so fast. Like you Mrs.CBB and I have contemplated moving to a bigger home but not at the moment. The hard part is knowing we will...

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By: teachermum

We too paid off our mortgage early, in 5 years on a single income with interest rates at 11.5%! It can be done if it is a priority. Nor have we had car payments since about then. For comparison, our...

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By: Canadianbudgetbinder

Wow, that’s good for you!! We bought in 2009 when the rates were coming down although they went down even further. We will be breaking our mortgage in the New Year and paying the $2600 penalty to pay...

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By: Dennis

I always do 25% down for personal comfort (and its a like round number). I have learned with my most recent home that weekly payments is a small step better than bi-weekly. Variable beats fix interest...

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By: Angela

Hi Kodi, I was really encouraged after reading your comments. We recently bought our first home but we endeavour to pay it off early. We need all the help you can offer. Please dont hestitate to offer...

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By: Kodi

Hi Angela, my email is kodi_14@hotmail.com….by all means I am not an expert at mortgages, but I can send you in the right direction of how to calculate the difference it makes by weighing your...

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By: Anne @ Unique Gifter

I’ve become bolder over time when people complain about how much they’ve paid on their mortgage and how little the principle has dropped, explaining the basic math behind it and how much of a...

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By: Canadianbudgetbinder

Good for you! One really has to be focused at the goal here especially if paying off their mortgage is what they want. Like you this is not our dream home but it does almost everything we wanted when...

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By: Canadianbudgetbinder

Hi Dennis, I believe we put around 30% down on our house but we didn’t put all our savings down as we didn’t want to lose all the liquidity. Our house can now sell for around 100k more than we bought...

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By: Canadianbudgetbinder

Hey Anne! Thanks for dropping in to read and comment on my guest post mate. That’s awesome news that you will have your house paid in 5.5 years.. wow. What will you do then? People always ask us that...

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By: Pauline

Great post Mr CBB! I find it very motivating to use those calculators that tell you how much interest you save by making extra payments. Something as insignificant as $10 per week can have a great...

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By: Kay

Does anyone live in Toronto who paid off there mortgage in 5 years? It just doesn’t seem possible to pay off a $500,000 mortgage in 5 years.

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By: Marta

I think it’s unfortunate that they don’t educate kids at a younger age on the basics of budget management and so many don’t know what a difference it makes to pay even those ten additional dollars...

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By: Canadian Budget Binder

Hi Marta! I agree not everyone can take advantage of all the options BUT even the smallest extra payments that are made make a big difference. That is essentially what we did. I just finished writing a...

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By: Canadian Budget Binder

Hey Mate, Just found your comment now. You and I both bought our homes at a very young age so you know as well as I that every penny counts when it comes to mortgages. You are a testament that with...

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By: Kodi

Hi Angela, my email is kodi_14@hotmail.com….by all means I am not an expert at mortgages, but I can send you in the right direction of how to calculate the difference it makes by weighing your...

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By: Anne @ Unique Gifter

I’ve become bolder over time when people complain about how much they’ve paid on their mortgage and how little the principle has dropped, explaining the basic math behind it and how much of a...

View Article


By: Canadianbudgetbinder

Good for you! One really has to be focused at the goal here especially if paying off their mortgage is what they want. Like you this is not our dream home but it does almost everything we wanted when...

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By: Aileen

That’s the peefrct insight in a thread like this.

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By: Cherry

Collections need time, effort and discipline. I never found anything worthy of my time and effort, and so, I never collected anything until the kids came along. The kids grow so rapidly, that it seemed...

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