Andy and Nicole Hill, a couple from Michigan with two children, paid off their $195,000 mortgage in just under four years with an annual household income that ranged from $150,000 to $180,000.They made their first mortgage payment in January 2014 and their last payment in November 2017.
The couple bought the $350,000, four-bedroom house by putting down $155,000 and taking out a $195,000 mortgage. At the time, Andy Hill was a sales director, and Nicole Hill became a stay-at-home parent shortly after they moved. By budgeting and reducing their expenses, Andy and Nicole were able to make additional principal payments each month that varied in amount. For example, in 2016, these additional payments ranged from as low as $500 to as high as $4,000.
Keeping reading for an inside look at how Andy and Nicole Hill rationed their monthly income while paying off their mortgage.
Source: News Formal (newsformal.com)
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Save y'all some reading time-their yearly income is 180K. That's how they paid off a 200K mortgage on time. No secret, other than getting a better paying job.
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