What would your life be like if you had no mortgage? Would you accelerate your investing strategy, pay off debt, or take more family vacations? A few years ago, Natali and I discovered an incredible means to pay off our primary residence. Now we utilize this strategy consistently in order to meet our ultimate goal: purchasing more buy and hold real estate.
How To Pay Off Your Mortgage In 5 Years: Slash your mortgage with a proven system the banks don’t want you to know about
Using a HELOC, or home equity line of credit, to pay off your mortgage is a way to create equity in your primary home. Doing so allows you to pay down your balance quickly. More importantly, it allows us to leverage our funds in order to purchase cash flowing real estate.
The reason this works is because the loan on your house is amortized, meaning the value of the home is gradually paid off. Typically on a mortgage, you’re paying off the interest for the first years of the loan. Principle is not paid off until later.
But if you’re able to put a large amount of funds from a HELOC toward your mortgage, you can designate that money to go specifically toward your principle balance. Then going forward, a larger percentage of your monthly payment can be applied toward principle, instead of primarily interest.
Traditionally, you would pay off your mortgage in 15-30 years, but with enough discipline, this system allows you to do so in 5 years or less. Natali and I have utilized this strategy, and it works! We’re so excited to share that pre-order is officially open for the 2018 edition of our book, How to Pay Off Your Mortgage in 5 Years.
The new version includes several updates and tons of new content–including how the 2018 tax code can help you pay off your mortgage even faster! Reserve your copy here and get the book for a reduced price of $6.99. We can’t wait to hear about how you paid off your mortgage in record time!
Click here to Book a call with Clayton and his team: https://goo.gl/dezwHT