How much debt you have? Mortgage and student loans included.

[Anonymous]

Debt free, plenty of money for retirement, life is good!

[Anonymous]

140K on a townhome/condo my mother lives in, and my siblings and I split the $1000 mortgage. About 120k- 150k in equity.

Thats it. I don’t own another home, but saving for the next one!

[Anonymous]

650k mortgage @3.125 on 1.3m home: no other debt. Hhi 350k ish. May sell the home and downsize in next 6-8 years once kids launched.

[Anonymous]

295K on our mortgage (purchased in 2016 for 375K with 5% down and a 350K mortgage), 100K on our HELOC from our renovation this year. We paid off our 10K car loan in 2022, and our student loans to the tune of 550K or so were forgiven in 2023. We've never carried consumer debt.

[Anonymous]

<$80,000 and that is a mortgage.

[Anonymous]

$700k total. All mortgage.

[Anonymous]

45. We have around 700k left on a 1.8 M home. We make more than 700k at the moment, and could pay off early if necessary.

[Anonymous]

$0

[Anonymous]

None! We’re retired and it just makes life a bit easier even if it’s not the best financial decision. If I had had a 3% mortgage I would not have paid it off.

[Anonymous]

44. 650k on a 1.5M home at 4.75%.

HHI 450k.

Hate that mortgage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:800k mortgage on a 1.4 house. Nothing else.

Nothing else, says the person almost a million dollars in debt!

they didn't say anything about their total net worth, even setting aside the equity in the house which more than covers their debt. You do understand how 800k in unsecured debt (credit cards, student loans) is very different than a loan on an asset where they still have more than 40% equity?

I've got a 1.2 mortgage on a 2.2M house at a 2.5% rate, no other debt. Plenty of assets elsewhere. and to answer someone else's question, PITI is 7100.

This. We have $700k in mortgage debt, on a house worth about $1.3m (or something like that, it may be more, prices are going nuts these days), at 2.625% interest, and no other debt. I have no intention of paying it off before retirement, or even after I retire, at that rate. I suppose we could have prioritized paying it off, but that would have been supremely ill-advised, both in the abstract and as life turned out - we need the greater liquidity to pay for some costly medical treatments and therapies.

The anti-debt evangelicals are just so myopic.

We paid off our house and it’s freeing so we can pay for other thing like medical. The difference is living under our means. Our house is ver small and under $400k, yours is worth three times what ours is.

Not in the DC area, huh?

I don’t know where that poster lives but you can find fixer-uppers in my Silver Spring neighborhood for $400-450k.

Context is important. Just because someone can currently find a home somewhere in the DMV doesn't mean it likely that a person discussing a paid off home is from the DMV.

I wish these posters who stumbled on this board from other areas would preface their location in their response.

Yes, I am. We bought fixer upper that you’d never buy and diy most of it except roof and siding. After a few years refinanced to 15 from a 30 which kept our payment the same but we paid in a few hundred extra each month. Then we recast a few times and always paid the same amount with more going to principal. Not hard to do.

I'm in Arlington. We bought a house for $600,000 in 2003 and were able to put $150,000 down using equity from a condo we bought when we first got married (those shot up in value around here in the late 90's), we refinanced to a 15-year in 2010 when rates were down to about 3 percent--so our payment went up--and now we will be paid off in about 2 more years. People who bought in the DMV from the mid-90s to the mid-2000s benefitted from a big run-up in prices and low rates for refinancing in the 2010s and if you didn't take a lot of money out, you could be paid off or almost paid off by now in your early or mid-fifties.

Also Arlington with a very similar story. $625k home in 2003 with $200k down from previous home. We're mortgage free in our early 50s

Pays to be a boomer. Young generations are screwed. And yeah I know you’re technically gen X but you’re still a boomer in spirit.

[Anonymous]

$140K mortgage (2.75%) on a house worth $1.1M. End is near, but kids are in college. We're paying for that with 529s and cash on hand. We will pay cash for any subsequent cars, too, so we don't expect to have any debt for the rest of our lives once the mortgage is paid. Mid-50s (Gen-X, not a boomer)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:800k mortgage on a 1.4 house. Nothing else.

Nothing else, says the person almost a million dollars in debt!

they didn't say anything about their total net worth, even setting aside the equity in the house which more than covers their debt. You do understand how 800k in unsecured debt (credit cards, student loans) is very different than a loan on an asset where they still have more than 40% equity?

I've got a 1.2 mortgage on a 2.2M house at a 2.5% rate, no other debt. Plenty of assets elsewhere. and to answer someone else's question, PITI is 7100.

This. We have $700k in mortgage debt, on a house worth about $1.3m (or something like that, it may be more, prices are going nuts these days), at 2.625% interest, and no other debt. I have no intention of paying it off before retirement, or even after I retire, at that rate. I suppose we could have prioritized paying it off, but that would have been supremely ill-advised, both in the abstract and as life turned out - we need the greater liquidity to pay for some costly medical treatments and therapies.

The anti-debt evangelicals are just so myopic.

We paid off our house and it’s freeing so we can pay for other thing like medical. The difference is living under our means. Our house is ver small and under $400k, yours is worth three times what ours is.

Not in the DC area, huh?

I don’t know where that poster lives but you can find fixer-uppers in my Silver Spring neighborhood for $400-450k.

Context is important. Just because someone can currently find a home somewhere in the DMV doesn't mean it likely that a person discussing a paid off home is from the DMV.

I wish these posters who stumbled on this board from other areas would preface their location in their response.

Yes, I am. We bought fixer upper that you’d never buy and diy most of it except roof and siding. After a few years refinanced to 15 from a 30 which kept our payment the same but we paid in a few hundred extra each month. Then we recast a few times and always paid the same amount with more going to principal. Not hard to do.

I'm in Arlington. We bought a house for $600,000 in 2003 and were able to put $150,000 down using equity from a condo we bought when we first got married (those shot up in value around here in the late 90's), we refinanced to a 15-year in 2010 when rates were down to about 3 percent--so our payment went up--and now we will be paid off in about 2 more years. People who bought in the DMV from the mid-90s to the mid-2000s benefitted from a big run-up in prices and low rates for refinancing in the 2010s and if you didn't take a lot of money out, you could be paid off or almost paid off by now in your early or mid-fifties.

Also Arlington with a very similar story. $625k home in 2003 with $200k down from previous home. We're mortgage free in our early 50s

Pays to be a boomer. Young generations are screwed. And yeah I know you’re technically gen X but you’re still a boomer in spirit.

You're an ass in spirit.

[Anonymous]

$210K Mortgage on a home worth about $800K. 2.75%

$7K in undergrad loans that I’ve been making the minimum payments on for what seems like decades. 2.6%

[Anonymous]

$15K Mortgage on home.

Age 48