This month marks the 3rd full year with our 15-year mortgage. That means there's only 12 to go! There's moments where I wish we had stuck with the 30-year option, but luckily we have a decent income between the two of us that we were able to go with the speedier option.
What this means for our family: our lives won't be spent as a slave to a lender. G will have recently turned 14 when our loan is paid off. Because of cut-off dates, she'll most likely be in 8th grade. That leaves 4.5 years of extra boost to her college fund (we've already started contributing to a 529, but I'm sure we'll need more.)
Plus even if I were to get pregnant this second and have a child in 9 months (very happily still on the pill so that shouldn't be the case :P) our 2nd kid would be at the most 11 years old when the house is paid off. How neat is that?!
I'm excited to teach my child(ren) about the benefits of being money concious early on in life and hopefully they will learn from our mistakes but also from what we've done right.
12 more years!
February 4th, 2013 at 03:36 pm
February 4th, 2013 at 03:41 pm 1359992517
February 4th, 2013 at 03:49 pm 1359992993
Jerry
February 4th, 2013 at 04:06 pm 1359993979
February 4th, 2013 at 07:19 pm 1360005571