The Thompson Family

The Thompsons had a $385,000 mortgage at 6.5% interest with 28 years remaining. They were paying $2,432/month and felt like they'd never see the end of their mortgage payments. With two kids approaching college age, they were worried about how they would manage education costs while still paying off their home.

We implemented our Accelerated Payoff Strategy, restructuring their bi-weekly payments and identifying an additional $400/month they could put toward principal without impacting their lifestyle. We also helped them understand the power of targeting principal payments early in their loan term when interest charges are highest.

Paid off their 30-year mortgage in just 22 years, saving $67,000 in interest payments. The Thompsons are now investing that $2,432/month for retirement and were able to help both children graduate college debt-free.