Over 27% of Americans have no personal debt at all, according to a new online report.* This is up from 14% three years ago, and a big deal in a world with so many people living paycheck to paycheck. The increase in debt-free Americans is exciting and something we are passionate about. At Churchill Mortgage, we love teaching the benefits of debt-free homeownership to our clients!
We decided to meet up with some of our customers, Bo and Stephanie Railey, to talk about their process of becoming 100% debt-free and paying off their mortgage.
“When we decided to get out of debt, we had debt on three rental properties, a mortgage on our house, owed a couple hundred thousand dollars on my business, and during that time had four kids. But even though it’s complicated, if you stick with it and you’re diligent you can do it. You can get debt-free,” explained Bo Railey.
It’s easy to get in over your head with your home loan but at Churchill we want you to get a mortgage you won’t regret. We believe in debt-free living and our relationships with our customers are long-term and purposeful.
“Churchill Mortgage helped us by being that family friend and family business that we could relate to. We knew they cared about us and wanted to set us up for success. We decided to go with a 15-year mortgage and my husband said, ‘We’re going to pay it off in five years.’ It was actually three years when we paid it off,” said Stephanie Railey. “We were talking and said to each other ‘Who has a personal relationship with their mortgage company? It’s a mortgage company after all—that’s typically not a company you really build a relationship with. But, we do have that relationship.’ We had a true connection with our Home Loan Specialist (Shannon). It’s unlike something you see with other companies.”
Life tends to look different once your mortgage is paid off. You’re able to live life differently—whether that means donating to a good cause, traveling more, being able to retire, or just knowing you have the power to make big changes in your life by being in control of your money.
“After we became debt-free, one of the amazing things that happened was being able to help a family friend in need during a tragic time. We used our mortgage payment for that month since our mortgage was already paid off. We used the resources that God gave us in a way He really meant them to be used—to help others, not just ourselves,” stated Bo. “For me, Churchill Mortgage is a mortgage company that I felt like the integrity is at a level that I’d never experienced with a mortgage company before. I knew they cared about me as a person, and I knew they cared about my future and my wellbeing for my family.”
It’s easy to feel overwhelmed during the mortgage process. Churchill Mortgage can guide you so you can avoid making bad decisions, have more cash on hand, and simply enjoy life. Click here to meet the Railey family and hear about their experience with Churchill Mortgage and becoming debt-free.