tag:blogger.com,1999:blog-1893129263573703047.post7242788451922818207..comments2024-03-28T00:13:55.918-07:00Comments on A Frugal Family's Journey: Mortgage Balance (UPDATE) - Nov 2015A Frugal Family's Journeyhttp://www.blogger.com/profile/05093532273552790517noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1893129263573703047.post-25553224177318394792016-01-19T02:58:07.793-08:002016-01-19T02:58:07.793-08:00My husband and I have been thinking about retiring...My husband and I have been thinking about retiring in the next two decades or so and we've just started looking at our net worth. We've been including our home equity in our net worth, but you're definitely right in not including it. We still have to pay off our mortgage, and you're doing much better at that than we are right now, but we shouldn't include our home in our net worth since we do plan to live the rest of our life in it. Thanks for that tip.<br /><br /><a href="http://wcmtg.blogspot.com/2015/10/working-with-sacramento-mortgage.html" rel="nofollow">Tasha Reeves @ West Coast Mortgage Group</a>Tasha Reeveshttps://www.blogger.com/profile/10410571874613720927noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-24854502121498765232015-12-01T20:05:07.308-08:002015-12-01T20:05:07.308-08:00FerdiS - great to hear your home value has risen s...FerdiS - great to hear your home value has risen since you've moved in. Many people who have bought homes in the last 2-3 years have essentially seen instant equity as home prices have slowly rebounded in many parts of the US during the last 2-3 years. <br /><br />Yes, we do have one of the lowest mortgage rates around but I must admit, because our mortgage consumes a large portion of our income, it leaves less to invest and grow. If I were to do it again, I probably would have done a 20-year mortgage. Most people do either 15-year or 30-year but a 20-year mortgage does exist. <br /><br />We went with a 15-year mortgage because the time frame is more in line with our retirement goals. :)<br /><br />Thanks for visiting and commenting. Best wishes! AFFJA Frugal Family's Journeyhttps://www.blogger.com/profile/05093532273552790517noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-89052155210501199112015-11-30T08:05:24.533-08:002015-11-30T08:05:24.533-08:00Hi AFFJ -- you've got one of the greatest mort...Hi AFFJ -- you've got one of the greatest mortgage interest rates there, congratulations. (I realize it is partly due to being a 15-year mortgage). I like how you relate the balance to percentage ownership. Perhaps I should do this for our mortgage, too. We're in our new home for just more than a year now, and we probably don't even own 25% of it yet! One comfort is the value (according to Zillow) has risen by 40%. Even if Zillow is wrong by 25%, that's 32%!FerdiShttps://www.blogger.com/profile/05008021146951839361noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-6678209476147351122015-11-28T13:00:43.729-08:002015-11-28T13:00:43.729-08:00Thanks Ben. Looking back, I would have considered ...Thanks Ben. Looking back, I would have considered buying less home though. Just not investing quite as much as I would like. :) But I when we bought the home, the plan wasn't for my wife to be a stay at home. Although she does bring some money with her side hustle, we still miss her full-time income. :) <br /><br />Thanks for stopping by and commenting. Regards. AFFJ A Frugal Family's Journeyhttps://www.blogger.com/profile/05093532273552790517noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-37362010512929927562015-11-28T11:59:47.277-08:002015-11-28T11:59:47.277-08:00Nice well thought out strategy. I think it's ...Nice well thought out strategy. I think it's a safe bet your investment account will grow at more than 2.875% over the next 10 years.Ben at Sure Dividendhttp://www.suredividend.comnoreply@blogger.com