How to Pay Off Your Mortgage FAST | 3 Tips to Pay Off Your Mortgage Early

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11 ай бұрын

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Ready to Buy Your First House? Watch these videos & Visit my playlists!
⭐8 Steps to Buy a House - kzfaq.info/get/bejne/nM2FntqbppeWhmg.html
⭐ Where Should You Start? - kzfaq.info/get/bejne/Zq9_n5ihpqnDd58.html
⭐ Most Important People in the Home Buying Process - kzfaq.info/get/bejne/a7RnY9p-vc3Rl4k.html
⭐ What is Included in your Mortgage Payment: kzfaq.info/get/bejne/hsV6dpuTm92vfYk.html
⭐New Construction - kzfaq.info/get/bejne/h9Vzltd83duuqHU.html
⭐FHA or Conventional - kzfaq.info/get/bejne/nb6WeKqByZnPZI0.html
⭐Buying a House with Student Loans - kzfaq.info/get/bejne/r9uepLqnlt6thYk.html
⭐7 Day Perfect Credit Plan - kzfaq.info/get/bejne/areFaspnrrmbcoU.html
⭐Can you afford a house: DTI Ratio - kzfaq.info/get/bejne/iZmXn6Wmy5jKgqs.html
⭐What happens at closing -kzfaq.info/get/bejne/nstziMelyK2xnKc.html
⭐NACA Home Buying Program -kzfaq.info/get/bejne/frJ8n9ioxqfKooU.html
⭐Should I Rent or Buy? - kzfaq.info/get/bejne/hLaXgtyDv7HKnYk.html
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Пікірлер: 446

@rafjones 11 ай бұрын

My husband and I paid off our mortgage in less than 14 years. It's a wonderful feeling to be mortgage free.

@ShaheedahHill 11 ай бұрын

Congratulations

@myrianb8596 10 ай бұрын

What did y’all do?

@rafjones 10 ай бұрын

@@myrianb8596 We bought a house out in the suburbs that was affordable enough that we knew if we needed to we could use only one of our incomes to make the mortgage payment. So that left us with enough money left over from the other person's income to apply extra payments towards the principal every month. So, basically, we turned a 30-year mortgage into a 15-year (or 14 rather because we really had a goal of paying it off quick!)

@CycoPatPonfe 5 ай бұрын

Congratulations! There’s No value on the “PEACE OF MIND” ❤🙏👍

@six6goddess214 11 ай бұрын

I paid off my current home in 9 years but the price was 90k.

@ShaheedahHill 11 ай бұрын

That is awesome!!! I am sure it is worth way more now!!! Thanks for sharing.

@autobotdiva9268 10 ай бұрын

the good REGULAR days of housing. no way i would move from that

@Hebrew-Nation1 10 ай бұрын

Mines was 85k. What was ur monthly payments like? And interest rate? How much were you throwing on ur principal

@FreethemGuyz 9 ай бұрын

@@Hebrew-Nation1I'm throw the kitchen sink at mines

@FreethemGuyz 9 ай бұрын

@@autobotdiva9268she better not

@magnelpitt398 11 ай бұрын

Thanks for the tips! My plan is to pay off my mortgage in 7 years instead of 30 years.❤

@ShaheedahHill 11 ай бұрын

Wonderful!

@magnelpitt398 5 ай бұрын

@traybern Sounds great! I will look into it. Thanks!

@anthonyrotella8791 Ай бұрын

@traybern you cannot exceed a 50% debt to income ratio with most conventional mortgages

@TheJusticeLiga 11 ай бұрын

My wife and i are closing at the end of this month. If we add 100 as principal only then we'll pay if off 4 years earlier. Every bit counts.

@ShaheedahHill 11 ай бұрын

Yes, it does. Congratualtions on your closing.

@SeriousSchitt 10 ай бұрын

What’s ‘closing’ mean? Does it mean to finish paying off or does it mean just buying? Thanks.

@domahneak5099 10 ай бұрын

@@SeriousSchitt It’s the process of signing all the documents to say that you’ll own the home after you finish paying it off. And putting down your final deposits on the home .

@kammyr4082 6 ай бұрын

@@SeriousSchitt"closing" the deal basically

@rayjoseph2086 11 ай бұрын

Thank God I just bought another home..and thank God I am able to pay 1,000.00 a month on principle every month.. I so thank God..❤

@ShaheedahHill 11 ай бұрын

Thanks for watching!

@cryptonewbie6758 10 ай бұрын

currently working 2 fulltime jobs in order to payoff my mortgage in 2 years. Wish me a luck 😃

@ShaheedahHill 10 ай бұрын

Best of luck!

@autobotdiva9268 10 ай бұрын

good luck, dont pass out!

@naziafatima1966 5 ай бұрын

Do you know of any full time wfh jobs

@familylifetoo9541 4 ай бұрын

Best of Luck. Make time to relax also. 🎉🎉

@merlinephidd5175 3 ай бұрын

Good luck

@lisadearing5960 6 ай бұрын

Our plan was to have our house paid off the same month my husband retired. He ended up retiring 2 years early, so that changed our plan. We are now on track to have it paid off at the end of 2026. Of course we will still have taxes and insurance so we will be saving about $600 a month. Then our next goal is to get our car loan paid off early. I can’t wait!!!

@jamaicanblackqueen8897 11 ай бұрын

Haven't bought yet, but this is great to know for the future. BTW that beautiful shirt looks good on you. ❤

@ShaheedahHill 11 ай бұрын

Thank you 😍

@missbttrsctch 11 ай бұрын

VERY useful information - thank you 🙏🏾!!

@ShaheedahHill 11 ай бұрын

Thanks for watching!

@followmeinthekitchen3877 2 ай бұрын

We bought 6 months ago and now cranking up the hours at work to pay off the mortgage in 5.5 years. We can do it. We have 3 young’s kids and want to be free by 2030

@ShaheedahHill 2 ай бұрын

That is awesome!!!

@richhands5269 11 ай бұрын

My three favorite channels: Shaheedah Hill, Stock Brotha, & Graham Stephan. Make my week complete! 🔥 🔥 🔥

@ShaheedahHill 11 ай бұрын

Thanks for watching!

@ltgemini1599 11 ай бұрын

You look great, Ms Ma'am! That color is beautiful on you.

@ShaheedahHill 11 ай бұрын

Thank you so much

@terranceali9787 10 ай бұрын

First person to give real realistic numbers Thank you so much

@ShaheedahHill 10 ай бұрын

Welcome 😊

@kalawymbs2393 11 ай бұрын

Thank you for all the information that you give us. You are truly a blessing. God bless you!

@ShaheedahHill 11 ай бұрын

Thanks for watching!

@sophiavega1777 5 ай бұрын

Thank Mrs.Hill for educating many your are appreciated ...also the way you explain things are very clear. Not surprise you were were a teacher before 💓

@ShaheedahHill 5 ай бұрын

Thanks so much. I really appreciate the feedback. Yes, I didn't know it then, but getting teenagers to understand business helped me a lot.😊

@michaelhabada3493 5 ай бұрын

Our mortgage is 852 a month. We have from day one paid 1500 to 2k a month. 6 years left.

@ShaheedahHill 5 ай бұрын

@michaelhabada3493 Thanks for watching and sharing

@Myresha100 11 ай бұрын

Thank you, saving this video ! If all goes well home ownership here I come and I'm using 1 of these principles.

@ShaheedahHill 11 ай бұрын

Thanks for watching!

@earthangel3945 11 ай бұрын

Yesss, this what type of time I'm on!

@Kish-wm8tu 10 ай бұрын

I’m gonna say paying off the mortgage early is always a win. Imagine owning your house @45? This would allow potential partial retirement. Especially if you’re single.

@ShaheedahHill 10 ай бұрын

Thanks for watching

@hnytamo 7 ай бұрын

This will be me hopefully 🙏

@hnytamo 7 ай бұрын

I’m 39 and owe 100,000

@ela111961 3 ай бұрын

It depends. I put additional payments on my principal every bi-weekly paycheck on a 2.88% fixed mortgage. But I put a lot more on my 401k that gives me 13 5%. Plus employer gives us free money if we put minimum 6% of our salary to our 401k. Put your money where it has max benefit. If you have high interest credit card balance than your mortgage interest, put your money there first.

@user-mv2tg8hc8c 5 ай бұрын

So helpful! Thanks!

@jasmajefferson3903 6 ай бұрын

New subscriber 🥰 I just closed on my first home last month & I plan on paying it off early.. thank you for this info! ❤

@ShaheedahHill 6 ай бұрын

Welcome to the channel!

@sarahcleghorn9990 10 ай бұрын

I closed on my first tiny home, in the summer of 2023. I listened to your talk show. I got some good information. I'm Ready to learn more

@ShaheedahHill 9 ай бұрын

Awesome, Congrats!!!

@ericjuli6576 11 ай бұрын

Just closed on our home in June. Made an excel sheet using PMT function to lay out an amortization schedule and set it up to show the affects of extra principle payments. Gamified paying it down; as it’s exciting to see both how many months we’ve shaved off and how much interest savings over the life of the loan

@MotherOfCivilization317 11 ай бұрын

PMT function? Got it, thanks!

@ericjuli6576 11 ай бұрын

@@MotherOfCivilization317 yep, combined with round to get even dollars. =ROUND(-PMT(…),). And don’t forget to divide your mortgage rate by 12 or you’ll have a very expensive payment :)

@ericjuli6576 11 ай бұрын

Also note, this figures up your principal and interest payment only and does not include escrow items like taxes and insurance

@ShaheedahHill 11 ай бұрын

Ok Excel Pro...thanks for sharing!

@leri3365 10 ай бұрын

Can you share it for us?

@magnelpitt398 10 ай бұрын

This video is so good that I had to listen to it about 6 times. Best video!! Thanks ❤

@ShaheedahHill 10 ай бұрын

Thank you! I appreciate that.

@Mr.N0b0dy.202 11 ай бұрын

You make such great content. I watched you a ton before deciding to buy a home. watched you while we were saving for a home. watched you while we were looking at builders and still watching you now. Your content spans all phases and that to me makes your content hold so much value.

@obaaAkos02 11 ай бұрын

Absolutely. Mrs. Hill is the real deal. I have been a homeowner for years and not in the market to purchase a home. However, I watch her religiously. She has so much knowledge and wisdom when it comes to homeownership. She's definitely doing the Lord's work in our community ❤.

@ShaheedahHill 11 ай бұрын

Thank you so much. I appreciate really appreciate it!

@ShaheedahHill 11 ай бұрын

Thank you as always and I appreciate the continued support.

@lanelljohnson5767 11 ай бұрын

You are so smart. Thank you for providing good quality content.

@ShaheedahHill 11 ай бұрын

So nice of you, thanks for watching.

@sipusisiwenilli3851 5 ай бұрын

First time watching your video like it 😊! This is awesome and thank you ! Simple strategy , well explained !

@ShaheedahHill 5 ай бұрын

Thanks so much!

@MyViewsss 10 ай бұрын

Mrs. Shaheedah, very good information. Thank you

@ShaheedahHill 10 ай бұрын

Thanks for watching!

@malawilake40 11 ай бұрын

I said the same,put extra in your retirement accounts,like your 401k,Roth IRA,or Brokage accounts...if or when the interest rates get low refinance your mortgage

@dionarcher8968 9 ай бұрын

Mrs. hill, GREAT VIDEO...THANK YOU SO VERY MUCH for taking the time to create this wonderful tool. It hits different when there is an intelligent, Black Woman illustrating what can be done to improve net worth of others. My Wife and I just watched your video 5 minutes ago and created a plan to pay off our mortgage using your 1st strategy. Thank you...We are subs now..

@ShaheedahHill 9 ай бұрын

Welcome to the channel! Thank you for watching.

@everythingelle6450 11 ай бұрын

Omg I love this! I just bought a home and have been trying to figure out how to pay it off early!! Thank you 🙏🏽

@ShaheedahHill 11 ай бұрын

Glad it was helpful!

@autobotdiva9268 10 ай бұрын

every extra dollar towards principle. it sucks but its worth it once you see that balance drop in 60 days

@michelleharris6260 4 ай бұрын

Thank you so much for this. I’m closing on 3/22 with Naca and I’m planning ahead so that I can pay my mortgage off sooner. ❤

@ShaheedahHill 4 ай бұрын

Congratulations!!!

@lisagarnier8059 3 ай бұрын

Very Helpful Information. Thank You.

@ShaheedahHill 3 ай бұрын

Glad it was helpful!

@Ahavagoldman 11 ай бұрын

Thank you 🙏🙌

@ShaheedahHill 11 ай бұрын

You're welcome 😊

@aaronc4724 4 ай бұрын

Thank you for explaining the extra payment in detail

@ShaheedahHill 4 ай бұрын

@aaronc4724 Thank you for watching

@gogobergie2000 8 ай бұрын

Thanks for your video. It helps a lot.

@ShaheedahHill 8 ай бұрын

You're welcome!

@catt3911 5 ай бұрын

That investment part. That’s what everyone forgets. New subscriber just off that fact!

@ShaheedahHill 5 ай бұрын

@catt3911 Thank you for watching

@bjos6596 11 ай бұрын

Thanks for breaking this down, I’m determined to pay off this mortgage earlier

@ShaheedahHill 11 ай бұрын

Thanks for watching!

@inthevault9603 3 ай бұрын

I know this is totally off topic but your lipstick and blouse combo are fire. 🔥 😊 Ty for the advice on trying to pay off my current mortgage early.

@ShaheedahHill 3 ай бұрын

Oh thank you! @inthevault9603 Thank you for watching

@auntymelsreadingclub4578 5 ай бұрын

Thank you for this information.

@ShaheedahHill 5 ай бұрын

@auntymelsreadingclub4578 Thank you for watching

@uterpia 11 ай бұрын

Thank you.

@ShaheedahHill 11 ай бұрын

Thanks for watching!

@davideades160 Ай бұрын

I took a 30-year long and whenever I have extra money I put it towards the principal I don't know but I believe I'll have my home paid off six more years. But that's not my only property. My other property is all paid off for the last 20 years..

@ShaheedahHill Ай бұрын

@davideades160 Thank you for watching

@lorettacox7990 10 ай бұрын

Absolutely Awesome 👏🏾

@ShaheedahHill 10 ай бұрын

Thank you so much!

@shonthedivinediva8462 11 ай бұрын

Thank you for the calculators!

@derrickwideman2418 11 ай бұрын

I would say I don’t know how I find you on KZfaq, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *85O Credit Restorati0n* . I thank God for this wisdom. Bless you.

@sonalipooja1542 11 ай бұрын

This may be a stupid thing but im young and new to building credit. Recently my credit score just dropped from 750 to 619 but i am able to use *85O credit restorati0n* websites to get to an 800 I was stuck at 750 for a while and I’ve been trying to get to 800. I know in this video you think these methods work for ppl with below 400 but i wanted to make sure someone with over 200 could use these websites.

@ShaheedahHill 11 ай бұрын

You are so welcome!

@becomingellis9303 7 ай бұрын

This was super insightful Shaheedah!

@ShaheedahHill 7 ай бұрын

@becomingellis9303 Thank you for watching

@malikadavis6791 10 ай бұрын

I love your channel! Today makes 2 years since I moved into my first home and I followed everything you said to purchase the home so now I’ll follow you to pay it off as well!!!

@ShaheedahHill 10 ай бұрын

Awesome, congrats on your 2 year anniversary. I hope you are enjoying your home and your interest rate☺️

@malikadavis6791 10 ай бұрын

Yes ma’am! Can’t beat 2.625% and I’m so glad I bought when I did instead of being afraid. All because of you 😘

@dandelion1598 8 ай бұрын

Live below your means. & a paid off home allow you to invest. I've lived in same home for 30years and own both homes on the sides of me. I'm debt free for 20yrs.

@ShaheedahHill 8 ай бұрын

@dandelion1598 Thank you for watching

@daralynx2 7 ай бұрын

Outstanding! Yep, keep your eyes open. I acquired several extra houses over the years just paying attention and living well below our means.

@PushRadio 9 ай бұрын

Very helpful!

@ShaheedahHill 9 ай бұрын

Glad it was helpful!

@user-zg4hn7tq8u 2 ай бұрын

Great presentation, and balanced lesson. Pro and con.

@ShaheedahHill 2 ай бұрын

Thanks for watching

@autobotdiva9268 10 ай бұрын

i divided my mortgage payment in half and pay that extra to the principle every paydate. its exhausting but ill be done in 24 months.

@ShaheedahHill 10 ай бұрын

Thanks for watching!

@nathanc3374 6 ай бұрын

Thank you so much!!!

@ShaheedahHill 6 ай бұрын

You're welcome!

@nuffchat_jackiem 2 ай бұрын

I like your tips, thank you.

@ShaheedahHill 2 ай бұрын

Thank you

@hermelyndapickleball 9 ай бұрын

Thank you!

@ShaheedahHill 9 ай бұрын

You're welcome!

@rangerbat9295 8 ай бұрын

Great info

@ShaheedahHill 8 ай бұрын

@rangerbat9295 Thank you for watching

@onetrueheart 5 ай бұрын

I wished I’d found you 10 years ago! This will be year 10 in our home in Aug. would love to pay it off in 16 years

@ShaheedahHill 5 ай бұрын

@onetrueheart Thank you for watching

@jdure551ify 10 ай бұрын

Thank you ❤

@ShaheedahHill 9 ай бұрын

You're welcome 😊

@meekyw.4010 9 ай бұрын

Thanks Shaheedah!

@ShaheedahHill 9 ай бұрын

Thanks for watching!

@tarikviaer-mcclymont5762 9 ай бұрын

Great vid

@ShaheedahHill 9 ай бұрын

Thanks for watching

@cristinapurdea8505 5 ай бұрын

Currently in progress paying off my mortgage 30 years. After 5 years at the renewal we’ve had left 11 years. It we manage to keep up with the plan we should be done in less than 3 years. In total it would be 8.5 years to pay it off.

@ShaheedahHill 5 ай бұрын

@cristinapurdea8505 Thanks for watching and sharing

@djchancla2451 3 ай бұрын

Good sound advice

@ShaheedahHill 3 ай бұрын

Glad it was helpful!

@aaronc4724 4 ай бұрын

Great video

@ShaheedahHill 4 ай бұрын

@aaronc4724 Thank you for watching

@cee3458 7 ай бұрын

Good stuff

@ShaheedahHill 7 ай бұрын

Appreciate it

@buyitbuilditfixit 10 ай бұрын

This was very informative. Thanks for sharing!

@ShaheedahHill 10 ай бұрын

Glad it was helpful!

@s.p.5213 5 ай бұрын

I intend on refinancing my home in about 4 yrs when rates drop and my income increases by 4K/ month, back to where it was several yrs ago. Take that re-fi money + roughly $150K cash and buy my Forever Home cash in Maryland. That is called being retired, b/c I'll have no real expenses each month. Groceries + utilities + gas + home & car insurance + misc will never total more than 2500/ month, which will be easily income coming from the 2-unit rental home + whatever other income stream(s)I have goin on.

@feleciasmith6246 9 ай бұрын

Thanks for sharing I am so happy I found this video because we owe $9853 on I mortgage and we were gonna take our Christmas club and pay $5000 to what the principal so I know that this was a good decision thanks for sharing

@ShaheedahHill 9 ай бұрын

Thanks for watching!

@jamesclaytonaloe7062 10 ай бұрын

Thanks 🙏🏽 God bless you

@ShaheedahHill 10 ай бұрын

You are so welcome

@royh2618 14 күн бұрын

I paid my $440K house off in 5 years. Do not let anyone talk you out of paying off your mortgage early!

@ShaheedahHill 13 күн бұрын

@royh2618 Thank you for watching

@Y0urTiaRica 6 күн бұрын

What methods did you use to pay it off?

@abeagleslife 22 сағат бұрын

Something that I never see when I hear people explain the cost of your mortgage is that paying only the required payment each month will easily more than double your borrowed amount even with a "low" interest rate. If you borrowed 300K, count on paying more than 600K, essentially you are buying a house for yourself and the bank.

@Braveheart_DST1913 9 ай бұрын

Thank you, so much for this video. I just purchased my home August 2023 and I am going to pay it off in 8yrs

@ShaheedahHill 9 ай бұрын

Awesome, Thanks for watching!

@TomNook 2 ай бұрын

I’m planning to take on a second job, part-time, where the income from this goes to paying off the mortgage.

@juxjay7108 10 ай бұрын

You're the best my sister

@ShaheedahHill 9 ай бұрын

Thanks for watching!

@Okyouright 10 ай бұрын

That color looks great on you

@ShaheedahHill 10 ай бұрын

Thank you so much!

@greggsadler4387 10 ай бұрын

Make sure your bank/finance institution “allows” it. Some times there are fees to change terms.

@ShaheedahHill 10 ай бұрын

Thanks for watching!

@ethelvinagutierrez2741 5 ай бұрын

New subscriber ❤

@ShaheedahHill 5 ай бұрын

@ethelvinagutierrez2741 Thank you for watching and welcome to the channel.

@sheneathahollowell2750 3 ай бұрын

That’s a good point. I’m in a 15yr at 3%

@ShaheedahHill 3 ай бұрын

@sheneathahollowell2750 Thank you for watching

@harvestcreativedesign9034 5 ай бұрын

I love your videos sis. I will advice you make the purchase amount or home amount example smaller (like 150K - 225K). A lot of people that look like you are not making even 75K a year. And lot of people don't do the math, because the lender will not tell you that you can't afford this home. People home principle and interest is 50% of their take home pay and that is house poor. Encourage smaller home purchase first for first time home buyer and later they can get bigger home with the liquids cash. I know home are expensive these day, but about 30 states you can get a home for 200K.

@ShaheedahHill 5 ай бұрын

@harvestcreativedesign9034 Thanks for watching and sharing

@iiixlovexyuhh 4 ай бұрын

I actually appreciated she used that price because I live in FL and the home I’m planning on getting is more expensive than that. She has always advocated for buying a home within budget regardless of what the lender says. It’s important to focus on the principle she’s teaching, this is math and wisdom. Regardless of home price it can be applied to anyone.

@harvestcreativedesign9034 4 ай бұрын

For sure. My only concern is that America is a big country with 50 states each with its own constitution and government. I'm recommending she make the prices for the higher living conditions state and lower. At least someone in North/South Dakota, Indiana, Ohio, Pennsylvania, etc. can say I have a chance of owning a home. Even big networks do the same by making their example with states like California, New York, etc. You need at least 100k to own a home in those states and how many black families and moms making 100K annually? @@iiixlovexyuhh

@PKerusso 10 ай бұрын

Forget the interest rate vs investment. Pay off your mortgage early as you can. 100 percent of foreclosures had a mortgage on them….

@ShaheedahHill 10 ай бұрын

Thanks for watching!

@ivana.dejesusm.5168 10 ай бұрын

Hi do you need assistance?

@ivana.dejesusm.5168 10 ай бұрын

I would say I don’t know how I find you on KZfaq, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *Web backdoors🕳️org* . I thank God for this wisdom. Bless you.

@ivana.dejesusm.5168 10 ай бұрын

You can also need to look their name up to see their website

@sheilalaibhen3421 11 ай бұрын

Couldn't you make a large lump sum principal payment one or two times a year? Is that like a thing that can be done?

@ShaheedahHill 11 ай бұрын

Yes, you can can and there is an option to calculate that as well using the amortization calvulator. Thanks for watching.

@1-blackcakequeen778 11 ай бұрын

Hi Ms Hill could you recommend some good savings and investment options for a first timer? Thanks

@ShaheedahHill 11 ай бұрын

On Sunday, I am coming out with a "Wealth Weekends" video that goes over 12 things you need to establish weath for the long term. I would recommend a high yield savings account for your 3-6 months of expenses - now thats about 4-5% interest you can earn, then you should max out a 401K or 403B to the match if there is one at your job and then open a Roth IRA. On Sundays I will begin to talk about more personal finance topics. Thanka for asking.

@thienphongvu2452 8 ай бұрын

But if they only allow to pay extra 10% per year, any more than that will be charged fee.

@CopperColouredQueen 9 ай бұрын

2nd time watching, before i bought my home and now thst ive made my first morgage payment yesterday. Thank you. Im shooting for 8 years😊

@ShaheedahHill 9 ай бұрын

Thanks for watching!

@LeonWolves 4 ай бұрын

The plan is 6 years to pay off 330k. Very doable with my income and my husband working part time, I’m excited every time I make additional payments

@ShaheedahHill 4 ай бұрын

@LeonWolves Thank you for watching

@Max-Q 11 ай бұрын

Thank you for the excellent guidance! Small quibble, that first example would be less than 24 years, not 23.

@ShaheedahHill 11 ай бұрын

Thank you and you are correct. Hopefully, I can do some magic and edit that out. 🙂

@forte7991 3 ай бұрын

Of course it makes good financial sense

@ShaheedahHill 3 ай бұрын

@forte7991 Thank you for watching

@cowboypatriot6052 7 ай бұрын

Should I sell first or buy first? I would need a large heated storage and an air b&b if I sell first while I look for a house. This in-between would cost me thousands. If i buy first I would be stuck with two homes to pay for untill I could sell my current home.

@ShaheedahHill 7 ай бұрын

You should look for another property, try to put a contingent offer on it, meaning contingent on selling your home. Depending on your market that can work, it works even better if you are buying new construction. You also could sell your house and ask your buyer for a lease back until you close on your home. Start looking for agents and they can walk you through the process, so you can avoid the AirBNB 😊

@teepeace7062 9 ай бұрын

Thank you for this information. What if you apply money throughout the year towards the principal of your mortgage loan but it doesn't add up to the full amount of an extra mortgage payment? For example mortgage payment $1900.00 per month & one could only afford $1500.00 towards the principle. Is it still worth it? Or not? Thank you.

@ShaheedahHill 9 ай бұрын

Yes, it is still worth it. If you do lump some payments you can still pay it off earlier. The calculator will calculate lump sum payments as well. Thank you for watching.

@em4634 10 ай бұрын

Thank you so much for this video, Shaheeda! If you pay extra towards your principal, does the bank charge you a fee?

@ShaheedahHill 10 ай бұрын

Typically no, but check with your mortgage servicer to be sure. Thanks for watching.

@em4634 10 ай бұрын

@@ShaheedahHill Thank you for all the valuable information!!

@user-pe1jl5zt3h 9 ай бұрын

how can i calculate starting adding extra payments now although loan started in 2020. the calculator doesnt let me specify dates

@ShaheedahHill 9 ай бұрын

www.bankrate.com/mortgages/mortgage-loan-payoff-calculator/ Use this and put your years remaining on a 30 year loan 27, since you bought in 2020.

@jpl57210 3 ай бұрын

So realistically most can’t swing a double on a400k home or they would just buy a700k home and then try to follow this advice. Best advice is to get a 15 year mortgage.

@ShaheedahHill 3 ай бұрын

Often wages increase over time and what you can do at time of purchase will be different than what you can do later in ownership. @jpl57210 Thanks for watching and sharing

@ashleyb6258 3 ай бұрын

Exactly

@tvted6160 5 ай бұрын

Where I live, I only wish I could buy a house or apartment for $400k. 😢

@manishthukral71 5 ай бұрын

Where is link to the calculator you have mentioned in this video. Please advise

@ShaheedahHill 5 ай бұрын

🔵Bankrate Amortization Table: www.bankrate.com/mortgages/amortization-calculator/

@AnnieFNYC 9 ай бұрын

Thank you for this. I want to get it done in 8. Might take 10. My taxes are 10k on a tiny house. (NY)

@ShaheedahHill 9 ай бұрын

You can do it!

@AnnieFNYC 9 ай бұрын

Thank you ❤

@leleg3046 5 ай бұрын

On a tiny home taxes ripp off, wow

@manishthukral71 5 ай бұрын

What is the formula or formula to calculate principal in the payment amount

@ShaheedahHill 5 ай бұрын

🔵Bankrate Amortization Table: www.bankrate.com/mortgages/amortization-calculator/

@rosiepugliese2818 8 ай бұрын

did a 20 yr loan in 2020 ... and am paying an extra 160 a month and will have the house paid off in 13 more years

@ShaheedahHill 7 ай бұрын

Congrats! Thanks for sharing.

@charletfoster8917 4 ай бұрын

This video is the Best strategy on how to pay off a mortgage early on KZfaq🙏🏿😊🙏🏿😊🙏🏿😊

@ShaheedahHill 3 ай бұрын

@charletfoster8917 Thank you for watching

@tarahpierre-gilles7113 9 ай бұрын

I just bought a house, and I am processing through these exact same questions. Thank you so much for this video!

@ShaheedahHill 9 ай бұрын

Thanks for watching!

@brandonbarclow3135 9 ай бұрын

Should you pay off your mortgage early. YES!!!! The idea that you can make more money by investing that extra payment is not new. Financial advisors will tell you that investing is better rather than sending the extra payment. I wonder why. But it's just math. It's not reality. Most people will never invest that extra payment. My mortgage was paid off in 8 years, and it feels fantastic!!!! I used the velocity banking strategy.

@MFFL674 5 ай бұрын

my investments are automatically withdrawn. every week to index funds and monthly to 401k. i still hedge my bet and make the extra mortgage payment each year. i guess i'll just have to wait and see if those investments can beat my mortgage rate in the next decade.

@brandonbarclow3135 5 ай бұрын

@@MFFL674I'm sure it will pay off for you. If done right, you should get a better rate than the mortgage. Based on the math, I'll take investing over paying off a mortgage. But there's something about the peace of mind. The grass just feels a little better under my feet knowing that it's mine (aside from the taxes and insurance that I have to pay each year).

@jonlukas3483 10 ай бұрын

What about the biweekly payments?

@ShaheedahHill 10 ай бұрын

When you pay bi-weekly, you are essentially paying one additional payment per year. You can set up bi-weekly payments with your mortgage servicer. Just make sure there is not a fee.

@sharonkeller8367 5 ай бұрын

I was told years ago if I made one extra payment a year to the principal that I would essentially save the same amount of time as you mentioned on paying the $210 a month which equals the one payment a year. Is that correct? The reason I ask is because for those with children many receive a tax refund and it would probably be easier to pay the one extra payment of $2528 to the principal rather than the $210 a month. This might work better for those with lower mortgages.

@ShaheedahHill 5 ай бұрын

Yes, making an extra payment each year is basically equivalent to splitting it up over 12 months. I also recommend if you are getting a large refund to reduce your withholding to get that money in your paycheck each month instead of waiting for your refund. @sharonkeller8367 Thank you for watching