How old will you be when..

[segmond]

ahhh, i don't ever have to worry about this again.

[wincrasher]

I've paid off my first house this year at 43.

My new house that I'm buying next month will be a 30 yr mortage - I'd be 73!

But my plan is to have this one paid at 46.

[KTP]

Planning to sell before we get ours paid off, but at my current overpayment rate, we would be paid off at age 48 or so, 300,000 original loan. Luckily the house is still worth more than that

Oh, I am 38.

[LivingAlmostLarge]

55 I think. Not going to happen, we'll be moving in a year or two.

[creditcardfree]

Thanks for asking the question! I would be 63...we just moved here a couple years ago. Next mortgage will definitely be 15 year term. And there will be a move coming up, so I guess I don't need to focus on the 63.

[Daylily]

Current Age = 38
Payoff age = 46 if I only pay the required amount for the next 7 years and 10 months.

The last two months I have been sending in payments that if I keep it up, the house will be paid off in 30 months. I know it's not always the smartest thing to pay off the mortgage but I think we may be in a situation in the near future where we will permanently go to a one-income household.

[mommyof4]

63 years old

[globetraveler]

I will be taking out my first mortgage loan within the next 3 months on a home that is currently being built.

I am 30 now, so if I stayed in the home for 30yrs, which is not likely at this point, I would be 60 at pay off if I didnt increase payments.

Once my other debt is paid off in a couple of year I hope to be able to pay an additional 25-50% per month on the loan.

If I decided to stay in this house, and was able to pay an additional 25% a month on the loan, then I would have it paid off in 18 years. If I could pay 50% more, then it would paid off in 13 years.

So 48 or 43 respectively.

[whitestripe]

i am 21 and DF is 28, we just bought a house. we got a 30 year term so with no extra payments we will have paid it off when i am 51 and he is 58.
but with extra payments we would hope to have it paid off by the time i am 34 and DF is 41. (or less! you never know!)

[LittleGopher]

We paid off our mortgage in January, and my husband and I are both 46. Beyond words is how we feel about it all!

[TBH]

Good thread idea!

Current ages: 32 and 45
Payoff ages at current rate of payment: 45 and 58

Original loan term was 20 years, but we're about 19 months ahead right now because of a couple of early lump-sum prepayments. Also, I have always paid a little bit extra each month, usually around $50.

If we didn't prepay, house would be paid off around the time DS goes to college.

If we stayed here we'd probably start paying it more aggressively and would have it paid off in about half that time, but we're planning to move soon. We are going to get a 30 year mortgage to keep fixed expenses low, and plan to try to pay it off by the time my spouse is 65 (10 years early).

[FrugalFish]

I'll turn 37 later this month. If all goes well, we should be able to pay off the house in 4 years- so when I'm 41 and DH is 42.

Several years ago I set a goal of doing the final payoff on 12/12/12- that seemed like fun until I learned that's the day the world ends... oh well, I guess I'll feel like a real schmuck for paying off the mortgage instead of having lots of fun.

[feh]

Bought my first house at age 21. I got it paid off when I was 32. Moved to new house and paid cash. (husband built it) Moved again and paid cash again. No house payments for 32 years!

Similar story here - paid off our first house at 36 yo. Bought our second one, where we currently live, for cash.

[rizzmo]

38 wife will be 36. We bought our house this year but pay an extra $500 each month (our payment is $650).

[rizzmo]

38 wife will be 36. We bought our house this year but pay an extra $500 each month (our payment is $650)