Mortgage Loan

How to pay back off your 30 12 months Property finance loan in 10 without paying out any added, Aspect two





Study how to make the amortization desk perform for you so you can end up in a fantastic house.

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45 comments

  1. What a waste of time….give me my hour back. I am at least happy that I didn't have to buy anything at the end. I already have a 30 year mortgage, thought you were going to show me how to pay off a 30 year loan in 10 years, without paying extra. No wonder why you only have 3 videos.

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  2. LoL! This dude be like, I'm going to call my video, "How to pay off your 30 year mortgage in 10 years, without paying any extra", but I'm really going to talk about something better than paying off your 30 year mortgage in 10 years, then conclude by saying, "so that's my solution to the, how to payoff your 30 year mortgage in 10 years without paying anymore" LMAO! then he wants you to subscribe to his channel and keep you in suspense for another 2 year wait for his next video. LMAO! Those subscribers must be bought from Fivver. Who in their right mind would want any financial advice from this loon?

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  3. i see you didnt ever get a microphone worth a shit. the audio on this one sounds worse than the first one!

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  4. He is not calculating the closing cost of buying of each home….

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  5. Please explain exactly how it benefits the seller to keep their (already paid off) home on the market for 4-5 months rather than to sell it more quickly aside from the implied benefit of continuing to make mo payments to yourself on your paid off house, because that (continuing to make payments to yourself) could happen even if it's not being MLS listed on the market?

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  6. With out paying any less???? You mean, with out paying anymore.

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  7. -What you talk about everyone knows… blah

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  8. Dude..get to the fukeen point!!!!!

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  9. In my country we have to pay tax called "capital gains tax" I'm not sure about the bracket, but maybe around 40% on all increased value etc. The best way is to buy a property, get a very long term and rent it out, that worked for me.

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  10. Little bit of a misnomer? Shut the fuck up.

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  11. I see you have ubuntu as your OS, what software did you use to record your video? Is it free?

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  12. Didn't learn nothing video is worthless

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  13. Silly cat… if the 30yr guy put extra (the money he would be saving vs the 5yr guy paying realtors/cost of moving) in a DRIP account making 8-10% for 30yr, he'd be just as good if not better. Plus he wouldn't have to deal with all the extra bs that goes with moving constantly. Lesson – don't knock the 30yr guy until you've seen his portfolio. 😜

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  14. Absolutely useless.

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  15. Is this a joke?

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  16. Trim the fat off your jabber! Had to skim through just to get info I already know

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  17. so.. 45min in your suggestion was buy a smaller house? big thumbs down

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  18. this is the dumbest thing I have ever seen

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  19. Well, aside from starting out in a shack (your friend is in a lovely pre-fab, btw), the process makes a lot of sense. While you assumed the ability to save up additional down payment funds, I'm going to run my math as if you never add to the down payment except for the value of the home (assuming a 1% value increase each year you've owned it, non-compounding to make the math easier).

    DP: $50,000
    Loan: $35,000
    Term: 5 years
    Value Inc: 1%/year

    Home #1: $85,000 (Int Paid: $7,065; Value Inc: $4,250; total years: 5)
    Home #2: $124,250 (Int Paid: $7,065, Value Inc: $6,212; total years: 10)
    Home #3: $165,462 (Int Paid: $7,065, Value Inc: $8,273; total years: 15)
    Home #4: $208,735 (Int Paid: $7,065, Value Inc: $10,436; total years: 20)
    Home #5: $254,171 (Int Paid: $7,065, Value Inc: $12,708; total years: 25)
    Home #6: $301,879 (Int Paid: $7,065, Value Inc: $15,094; total years: 30)
    30 years later: Total Home Value = $316,973; Total Interest Paid = $42,390

    So, by the time you've made it to your 3rd house, you're in a comparable home as your friend having only paid $21,195 in interest after it's paid off. That's a pretty good deal considering your friend will have paid almost $109k in interest over this same 15-year period. It's also ~1/8 the total interest he will have paid by the time the house is paid off. By the time 30 years has gone by, you're home is (supposedly) twice as nice as your friend's, & you've paid only 1/4 the amount in interest. The biggest thing I see we're not considering is the cost to move (movers, truck rental, time required to pack everything, etc.), but one could consider using the home value increase to pay for these expenses rather than rolling it into the next home. By the end of 30 years, you'd be in a home worth almost $275k (assuming you're not moving anymore), and you won't have a broken your back after moving that darn sleeper sofa that no one ever seems to sleep on & weighs a ton!

    Considering the home values in my area of the world (PNW USA), I'd need a much higher down payment (& maybe a larger loan & monthly payment) to get something better than the shack you've started out in, but the idea of only taking out a loan that can be easily paid off in 5 years sounds very appealing!

    Now for my last piece of criticism, your title is still incorrect because it took you 15 years (NOT 10) to payoff an equivalent home as your friend. Perhaps if you chose your titles more wisely, you'd get less negative feedback. 😛 All in all, it's a good video because it's made me rethink my approach to home ownership & the various paths to get there. For that, I thank you!

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  20. watching this video was a giant waste of time

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  21. yeah dont get a mortgage just save up your money. it should only take you about 30 years, then buy that house when youre 50 years old. See, no mortgage.

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  22. This doesn't make sense, why even get a loan for 35k just buy 70k home!

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  23. My my a part 2!!! Wahoooooo!

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  24. lol… You should've came back 10 years later, (How to pay off your mortgage in 10 years)

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  25. it all depends on your neighborhood, you can take care your house but if your neighborhood becomes a high risk neighborhood then it can make the value of your house go down, no matter how well you take care of your house..

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  26. this is why so many people get screwed into mortgages they can't afford or understand, because people like this guy will talk you in circles for hours

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  27. You have mind that drifts off subject.this video really did not need to be this long.i did not learn anything.

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  28. What about applying the same principle for a $500k home, that's how much they cost right now in the San Francisco area

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  29. This has REALLY good advise however, it doesn't help people pay in 10 years when you're stuck in a 30 yr loan…
    Follow this advise if you're looking to buy your first house…GREAT STUFF…!!!

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  30. do they have 5 year mortage or you just have to ask for it. Or get it from credit union or something?

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  31. sounds like methane pushed out between two ham hocks

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  32. Oh may God. 2 minutes of information explained in 30 minutes. Title is completely misleading.

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  33. OMG – What a moron…  You actually worked at a bank?  The only job I could see you working at a bank is as the security guard, and only if they didn't allow you to have a gun…     Your way of paying off your 30 year loan in 10 years is to only borrow $35,000 instead of borrowing $100,000 and buying an $85,000 home instead of a $150,000 home…  Well duh….  Your title of this video is a complete lie.  You failed to pay off a $100,000 30-year loan in 10 years without paying any extra (as your title says).  You
    just borrowed significantly less money and bought a MUCH cheaper house.

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  34. What the hell are you talking about?  If I get pulled over for speeding and I have $8,000 in cash on me, you said the police would just take the money from me.  You're completely full of crap…  This video is a complete joke…

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  35. Wow you just rambled on and learned nothing then to take out a smaller loan.

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  36. I agree with the general theory presented, but this does not take into account the costs of buying and selling (eg stamp duty in Australia) nor the fact that the friend's property value would have doubled to $300,000 over 10 years if property is rising at 7% per year.

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  37. Both parts of these videos don't really teach anything….I want an hour of my life back, please!

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  38. plus, in 30 years $280 000 will probably buy you a shed. This is a good idea, however you are effectively waiting 5 years, then buying a marginally more expensive house, by which time, inflation and house price rises will mean you will be buying your next house that is either 1. no better than the house you have or 2. less valuable / less desirable. Surely the best system is to buy your existing house for as low as possible / add value, pay your mortgage and overpay as much as possible, allow capital appreciation over 5 years then sell. The overpayments will reduce your interest liability, and the capital appreciation from either the improvements you made, or a rising market, will magnify your equity much more than a slow burn system, which would mean never getting a house much more desirable than you currently have.

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  39. One thing you are not taking into account, is that capital growth will be larger on a more expensive property. If you buy a home for 100k and we take the average growth rate, it would double to 200k in under 10 years. meaning your equity would increase by 100k. a 50k property would double to 100k.

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  40. NEVER get a 30 year mortgage. 30 mortgage is the definition of financial slavery. Only do a 15 year mortgage. Buy a smaller house if you have to. My case, in 7 years I paid over 180 thousand to my mortgage company and only 26,000 went to my principal. That's about 4 thousand a year. Now with a 15 year mortgage 16,000 a year goes to my principal. You do the math. same house. my payments were about 2,100 now its 2,400 with a 200 buck a month mortgage insurance payment. They rob you where ever they can. So my payment went up 500 a month. But now it's been 3 years. and over 48 thousand has come off my principal. No one will tell you the real way to become dept free without selling you something. Stay away from 30 year mortgage. like its the plague.

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  41. wtf? That had nothing to do with a 30 year mortgage in 10 years that was a 5 year mortgage with 50k down in 5 years??? did i miss something?

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  42. why would you sell for 85k. you paid into it for 85k plus about 7K in interest why would you sell for what you paid? then pay a realtor also. doesn't make sense what your saying.

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  43. Nice video. I have a question. Is there a 'real' way to pay off a 30 year mortgage after living in the home for 6 years? Is it a matter of doubling payments twice a year? Id like to reduce a 30 year payoff to at least 20 year without a refinance. Any good helpful advise welcomed

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  44. Good video for somebody that hasn't buy a house yet. New buyers must watch.

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  45. Awesome love the plan.

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