Anonymous wrote:How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

No, I’m the PP with 19k above.

I bought another sub 500k property with 10% down and sold it after seven years when it had appreciated. I put the proceeds towards the other mortgage. I also do biweekly payments on a 30 year loan. It will be paid off after 15 years.

I also threw a small fraction of some bonuses at the loan.

I wouldn’t do this today because property values are so high compared to AMI but about ten years ago it wasn’t so high so it worked.

Age 61, widow, 300K mortgage on 650K house, no other debt

None. I wasn’t able to go to college and can’t afford to buy a home. I live in a city so don’t have a car.

We’re in our 40’s and have about 80k left on the mortgage on our townhome (it’s worth about 600k). Student loans have been paid off. We have maybe $2000 left on window blinds and a Home Depot account (at 0%), which comes due this summer. I would have paid it off already, but my husband doesn’t like paying things early.

People who have $600K+ mortgages, what is your PITI and what is your salary?

$1.7k on a car that will be paid off in two months. Only reason I have the car loan is it is good to have installment loans on occasion to keep your credit score up (and I forgot my checkbook on the day I went to test drive a car - did not think I was going to buy a car and wound up financing the majority of the purchase price). I have had the loan for 6 months at a low interest rate.

I am 50.

$800K mortgage on $1.6 million house. $7K in low-interest student loans.

It really doesn't make sense to lump mortgage debt (secured by an appreciating asset) in with other debt.

~$3m mortgage across multiple properties

Anonymous wrote:200k left on my mortgage

No other debt.

I'm 34 if we are adding ages.

200k left on my mortgage

No other debt.

Early 30s - 100K in student loans, 5.5%. Planning to get it forgiven through the PSLF program (about halfway through the 10-year service requirement).

No mortgage because not a homeowner 😭

How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

$190k mortgage remaining on a $2.5m second home at 3.75%, no mortgage on primary home. No other debt.

Would love to pay off the mortgage just to be done with it, but it doesn't make financial sense so we keep it.

19k.

I’m 41.

But I’m sure I’ll get another mortgage in a few years so this won’t last forever.

$515k mortgage at 3%. The house is worth $850k or so. Technically we could pay it off but it feels like a waste at that rate.