Anonymous wrote:46
Primary home: 50%
Second home: 80%
Third home: 100%
Fourth home: 100%

4 homes or this includes rental properties?

If the former where are there and what are they each worth?

47

Primary 70%
Secondary 65%

47, 37%, purchased three years ago.

46
Primary home: 50%
Second home: 80%
Third home: 100%
Fourth home: 100%

Anonymous wrote:38, 70%. Not sure whether to continue paying it off aggressively since everyone says that's a stupid choice.

There's a big difference between having 20% equity (the down) and 70% equity. At the latter you are probably also in a position to pay it off outright with other funds, or if emergencies happen and you need to sell, you have a lot of equity left after the sale. You can withstand temporary market declines, not face foreclosure threats so much.

I could pay off my mortgage tomorrow but those funds remaining in the market in the last few years have made me far, far, far more money than any savings from not paying interest any more, plus I still get to deduct the interest from my taxes.

Right now my mortgage is such a small share of my income (it's about 20% of my take home) and out of that monthly payment part of it is still the property taxes and insurance, which would continue to be paid even without a mortgage. Rationally, there's no benefit to paying off the mortgage early. And, as a PP pointed out, even if you have no mortgage and "own" your house outright, you're still on the hook for taxes and insurance, plus the never ending home maintenance.

100%

Age 52

I don’t actually know what our house is worth - we bought it in 2007 for 1.2 million (murch district) and put 500k down. We’ve put about 1 million back into the house over the past 15 years and I think it would sell for about 3 million now. We’ve got about 200k left on the mortgage, so 200k debt to 2.8 million equity.

Anonymous wrote:0% because I rent. If I were to buy, 100%.
I have no desire to own a home right now as single person. I do understand why others do and are how excited they are to pay off their homes.
It is not common to not want your own home, but if you knew how I got to this point, you'd understand.
47.

I'm sure I'd understand. I still wouldn't care, though. Not sure why you felt the need to interject yourself in this thread.

Anonymous wrote:50s bought 8 years ago , 250% equity, we owe 1 m and house would by conservative comps sell for over 3.5 M.

We should sell and invest the equity but we have low property taxes and a 2.25 % mortgage. We really like our area and the other areas we would consider have run up in price as well. At these price points, the whole hand a realtor 4-5% for doing squat is another no go. We are seeing more people do lower commissions but the bottom feeder agents are trying their best to not let go.

That's not how you calculate equity. I weep for the future. Presumably your spouse makes your money?

Anonymous wrote:

Anonymous wrote:Equity based on estimated market value or based on purchase price?

Equity is based on both

It . . . isn't? At all? You can estimate equity based on one or the other, but not both. JFC.

Anonymous wrote:I knew all the “never pay off your mortgage” threads were bullsh!t! No smart person actually wants a huge mortgage hanging over their head. It looks like most people do what I did: I have 80% equity at age 43. I want a little bit of leverage to boost returns, but no way am I putting down like 10% and then never paying off any extra

LIARS!!

You are the 35th poster on this thread. If by that you extrapolate that "most people did what you did," I'm really not sure what else to say, other than that your other decisions make a lot of sense (as in it's clear why you made those decisions, not that the math makes sense). Carry on.

- 52, with a $650k mortgage balance at 2.625% that I am never, ever paying off early

46

Main 80%
Vacation 50%

Anonymous wrote:40, 100%, been that way for almost a decade. DH scrimped a ton in young adulthood to get there. Happy to have the interest we would have spent going to other things.

Math education in this country really must be improved.

42
Primary residence 45%
Rental property 38%
No vacation home

Zero. I don’t own a home anymore after divorce.