10 years and 2 months from now my husband and I should be mortgage free. We recently refinanced our beach home from a 15 year fixed mortgage at 4.5% to a 10 year fixed at 3.5% (Note: interest rates on second homes are typically higher than on primary residences.) In the next month or so we also hope to refinance our primary home. That mortgage will shrink from a 15 year 4.5% mortgage to a 10 year mortgage at only 3.0%!
My birthday is in August, so if all goes according to plan I will be mortgage free one month after turning 45!
Now I realize that nothing in life is guaranteed, that anything can happen and that we certainly should NOT count our chickens before they hatch, but I can’t help but smile at the thought of being mortgage free in just 10 years.