re: How much equity do you have in your home and When do you plan on paying off

Just hit a year in this house and have ~$120,000 in equity. We should be here for 4-7 more years before we relocate again for work, but with a rate of 3.125%, we aren't currently putting anything extra towards the principal. Will likely pay a little extra once the school loans are knocked out, but it's highly unlikely we'll pay it off prior to moving.

Owe 60, worth about 180...thinking about using some equity to put new siding, windows and deck on it. It’s a small house I inherited (and it’s mortgage) that needs some work but is on 5 nice acres.

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a shite ton of equity

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Gotta leverage that equity baw

Very nice, Will. I plan on having our house paid off before 50 as well. Hopefully the real estate business will be going well as another side. I should be able to retire at 55 with 30 years at my company. Hoping to be a solid financial position, but being just married and kids in the future I'm sure it'll all get pushed back 10 years

Built in 2017.... Im 99% sure this will be our forever home unless something catastrophic happens. Owe 298k, last appraisal was $400k. Interest rate is 4.5%. We make biweekly payments so we pay an extra note a year. Should we increase our biweekly payments or put more money into our retirement accounts?

That’s my goal as well, to have it paid off before I’m 50, the wife will be 45. Paid $220k in 08, refinanced twice (last in ‘11) and owe around $100. I’ll be 45 last this yr and we have a couple toys to pay off but still think we can pay the house off in 5yrs. The kids will be in 4th and 3rd grades next yr and the plan is to put them in parochial school in the 7th grade. The goal is to pay off the house so that money can pay for tuition. Wife and I both have been maxing our 401k’s for the last 5yrs. The wife has some company stock she could sell 5yrs from now if things get tight with the house plus tuition if we don’t quite make it. As long as we stay in our current job situation, I don’t foresee any issue. Just maybe a belt tightening for a yr or so.

We’ve contemplated buying my in-laws place as they are ready to down size. But a 2 story 3700sq ft house on 8 acres with pool and pool house will put us in the same situation they’re currently, which is trying to find someone to pay a premium price for a great house and setup but not in a great location. And it would probably force us to get into a new 30yr to make it work with the upcoming tuition, and that’s not something I want to do at my age. But man, I love their place and hope they don’t have to sell.

Bought in 1999 for $200k and now worth $550k. I re-fied in 2004 and took some money out when I started my own business so I owe about $150k w/ 15 years remaining on the mortgage. I am very happy here and have no intention of selling unless property taxes force me out. Property taxes and insurance are now more per month than the principal.

Value of home: 190K
Principal Bal: 145K

Equity: 45K

Won't pay off this home. Will use the equity in 3-5 years to upgrade or build.