About EarlyPayoff
EarlyPayoff started in 2013, when we were first-time buyers getting out of the rental market and wanted to get out of the rat race as soon as possible. We paid off our own house in 8 years instead of 30. This site explains how mortgages, debt, credit and the rest of household money actually work, so you can make those decisions with clear numbers.
Our story
We saved our first down payment by living below our means. The inspection on that first house turned up a lot of fixes, and because we didn’t have much money, we gave up on many of them to bring the price down. We started with a 30-year loan, moved to a 15-year loan about five years in, and paid the house off through a combination of refinancing, biweekly payments and extra principal payments.
Along the way we made mistakes too. Our biggest was buying a new car, which loses value as soon as you drive it off the lot. Since then we’ve paid off debt with both the avalanche and snowball methods, used HELOCs for roof and plumbing work, sold homes, started our kids on savings accounts at age five, and learned that recurring expenses creep up if nobody is watching them.
What we believe
Zero debt, minimal credit use, and using the credit market’s zero-interest opportunities to your advantage.
- Keep an emergency fund before you pay extra on anything. We keep six months of expenses, and it has come in handy more than once.
- Pay credit cards in full every month, and keep enough available credit for real emergencies.
- Cash flow is important, but managing debt is crucial.
- What works for us won’t fit everyone. Every article says who an approach does not suit.
How we write and check our articles
- Primary sources. Rates, limits, rules and statistics come from the agencies that publish them, such as the CFPB, IRS, Federal Reserve, FDIC, Federal Student Aid, HUD, Freddie Mac and state insurance regulators. Each article lists its sources at the end.
- Worked examples. Calculations in our tables and charts are run from the stated assumptions, so you can check the math and swap in your own numbers.
- Independent fact-check. Every article is checked against its sources by a reviewer who did not write it before it is published.
- Real experience, clearly labeled. Notes marked “From the editor” are our own experience. We never invent stories or present our choices as advice for everyone.
- Regular updates. We review published articles every quarter and update figures when rules or rates change.
- No paid placements. We don’t accept payment to mention or rank products, and our articles do not contain affiliate links.
Corrections
If you find an error or an out-of-date figure, please tell us through our contact page. We correct mistakes promptly and update the article’s date when we do.
Important note
EarlyPayoff is for general education. We are not financial advisors, tax professionals or attorneys, and nothing here is personalized advice. For decisions that depend on your full situation, talk to a qualified professional.