Have you availed of a mortgage?

[SSgt Dickweed]

And how long are you paying for it? Or how long have you paid it for?

I think my folks did a 20 year amortization on the house we live in and have paid it off early. They already owned the lot/land before the house was constructed.

I only found out how mortgages really work recently.

 

[davidlemonparty]

Bro I had a mortgage and through hard work and some luck have paid it off.
living debt free is so awesome. Huge weight off my (and my wife's) shoulders.
as a home owner you still need cash flow to cover owners costs, but that's manageable even in a bad patch.

 

[SSgt Dickweed]

Bro I had a mortgage and through hard work and some luck have paid it off.
living debt free is so awesome. Huge weight off my (and my wife's) shoulders.
as a home owner you still need cash flow to cover owners costs, but that's manageable even in a bad patch.

You didn't specify how long you paid it for.

Oh, and DM me pics of wife.

 

[davidlemonparty]

You didn't specify how long you paid it for.

Oh, and DM me pics of wife.

Great question.
The home I own now is my second, I built and sold my first home prior.
So I took a 30 year mortgage (standard for Australian lending) at a variable rate. I put down a 20% deposit, also fairly standard for Australia.
We (wife and i) paid it off in 8 years or so.

Re: wife, I'll DM you butt hole pics bro

 

[Protectandserve]

30 year mortgage. Locked in at 2 1/4.

 

[Joe Mama]

I have had (my name) on several mortgages over the years.

19 - My parents co-signed on a condo. I lived there til I was 22 and they sold it to my sister from under me when I joined the service.

25 - Bought a house and lived there for several years, sold it for a decent profit and picked up another place.

30 (something I believe... Maybe in my 40s at this point?) - This place was foreclosed on because my stupid ex couldn't live up to the end of her divorce bargain. Had to file a CH13 on that one...


Here for almost 2 years now, I have another mortgage with my current wife. Put a shit ton down from savings and I am still salty at the realtor and their firm. They put their bottom line ahead of my wants/needs.

It really didn't surprise me when I found out the POS realtor that 'helped us' was married to a lawyer. No wonder these bastards could go to bed together every night.

 

[TardStrong]

In 2013 I started a 30 year mortgage at 3.625% but in 2020 refinanced to 15 years at 2.5%

Gonna pay it off over the next 4 years rather than invest the money just want to be debt free

 

[Senzo Tanaka]

I did 30 to get the cheapest monthly amount possible with the goal of just paying it off early. I ended up paying it off roughly 12. I got lucky because I bought my home during the recession and managed to saved a bunch of money with a steady job. I couldn't even afford a home now in the current market.

 

[Joshuaace]

Never had one. I've never financed a vehicle either.

 

[Fedorgasm]

I've had mortgages my whole adult life except for the 2 years where I rented to wait for the market to crash.

I've always sold the place before I paid it off.

Would love to pay off a house someday though. Probably feels amazing.

I'm getting a 500k mortgage right now. 30 years at 7.25% it fucking hurts, but you typically never win when buying/selling your primary residence. When the market's high you win as a seller but then lose as a buyer. And vice versa when it's low.

 

[Joe Mama]

Never had one. I've never financed a vehicle either.

Well played.

A prime example of "A penny saved, is a penny earned... But sleep is so much better when squatting and a stolen vehicle will get you there a hell of a lot quicker"

 

[Noveltymortar]

I've had two, both paid off long ago. These days I live by the maxim of "if I can't afford to pay cash I can't afford it".

 

[ThaiSexPills]

I’m mortgage free and it’s great because here in Canada, we can only lock in our rates for up to 5 years so your payment could double. I don’t like the uncertainty.

I live in one of my rental properties now because my new house is getting built now. I made a killing off of my old one and the land. I’m building an ICF bungalow with radiant heat in the basement floor and a 28x40 garage, detached.

After this is done, I’m going to pump the remaining from my home sale into building a shop for my company so we can stop renting. I’m going to use that shop for some personal stuff too but it’ll be nice to own the place. With my company doing most of the building, costs will be much lower.

 

[kahiljabroni]

Had a 30 at 4%....refied to a 15 at 2.75% during covid, on track to pay it off in 7 years.

We actually wanna move but it makes 0 sense and probably won't for a long time.

 

[EndlessCritic]

Here in Canada it's insane. People took 600k mortgages during the pandemic at like 2%. Renewal is going to be coming up in a couple of years at 5% and they are fucked.

 

[Strychnine]

Locked in a 30 year at 4.2. On track to pay it off very early. With the prices and interest rates today, we couldn't afford this place today.

 

[NoGoodNamesLeft]

Ni e try IRS

 

[TardStrong]

Here in Canada it's insane. People took 600k mortgages during the pandemic at like 2%. Renewal is going to be coming up in a couple of years at 5% and they are fucked.

Every loan in Canada is adjustable? You cant get a rate locked in for the 30 years?

 

[TardStrong]

Here in Canada it's insane. People took 600k mortgages during the pandemic at like 2%. Renewal is going to be coming up in a couple of years at 5% and they are fucked.

Every loan in Canada is adjustable? You cant get a rate locked in for the 30 years

Had a 30 at 4%....refied to a 15 at 2.75% during covid, on track to pay it off in 7 years.

We actually wanna move but it makes 0 sense and probably won't for a long time.

My house here in Ca was $275k so property taxes are about $3,500 a year. Im only 39 but think I'm staying put because retirement looks doable paying the taxes when I'm not working. If I were to move and pay cash for a place it would atleast double my taxes

 

[mozfonky]

Don't know how people do these things, in a world where life is so unpredictable, I'm sure they'll be people who view this thread who got their balls in a bunch but won't chime in to save face.