Personal finance

Here's How This Couple Paid Off Their $300,000 Mortgage in 5 Years

Rob Lee

Paying for a roof over your head is usually the top-line item of any budget.

Rob and Reshawn Lee viewed their mortgage payment as one of the biggest barriers keeping them from quitting their jobs and becoming entrepreneurs.

Rob had a successful career in IT, and Reshawn worked in sales. Together, they would take home more than $200,000 in a good year.

The Lees were grateful for their income but not passionate about their work.

So the couple came up with a plan: pay off their mortgage, quit their jobs and start their own travel and real estate businesses.

They had purchased a $300,000 home in 2013 near Dallas with a 15-year loan, putting 10% down. Freeing up the more than $2,600 they paid each month on the mortgage would give them the cushion they needed to chase their dreams.

In June 2018, the couple paid off that mortgage balance. Check out this video to see the strategy they used to cut a decade off the term of their loan.

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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