How Anne and Rene paid off the mortgage within 5 years

Part 2 in our 4-part series on how to crush your mortgage. If Anne and Rene can pay off their mortgage in less than 5 years, maybe you can too.



From the June 2013 issue of the magazine.


Good parenting explains, in part, how Anne and Rene Langevin, shown here with their children Ethan and Paige, were able to pay off their ?rst home within less than ?ve years. “Growing up, I was always taught to save money,” says Anne.

Such good habits served the couple well when they received cash gifts the year they were married. “We kept the money. We didn’t blow it,” says Anne. Along with those funds, and other money they had diligently saved, the Langevins—who now live in Oakville, Ont.—were able to put a $70,000 down payment on a $210,000 Toronto-area home back in 1998.

Before the purchase, while the couple was still living in an apartment, they never bought anything that wouldn’t be appropriate for a full-sized home. “Everything we purchased was always intended for a house,” says Anne.

They also bought only new items for their house with cash. “When we ?rst moved in, we took turns sitting on the ?oor for six weeks because we had only one La-Z-Boy recliner. Then when we’d saved enough money, we bought a couch. We weren’t killing ourselves with credit-card bills.”

Want to pay off your mortgage early too? Read “Crush your mortgage” for tips on how to get a head start.

2 comments on “How Anne and Rene paid off the mortgage within 5 years

  1. Quite funny. If houses were still $210,000 today, many people will pay off the mortgage in 5 years.

    Try a story where people have a $700,000 mortgage and paid it off in 5 years. That would be much more interesting


  2. This is now the second article, and I hesitated commenting on the first – I was going to ask why it was so vague but someone else already asked in regards to the actual numbers. "Be sure to check back in Wednesday for our how-to-crush your mortgage story for all the detailed info you're looking for. " he was told. Ok, now we have this.

    So to save on entertainment they bought season raptors tickets and sold weekday games for face value getting "inexpensive entertainment" to attend the weekend games they wanted.

    They received gift money and saved it. no mention of the percentage of how much gifts made up the 70K DP.

    Lived without a couch for 6 weeks until one could be paid for with cash.

    So we have,
    Buy a GTA house in 1998, pay around $210
    Buy seasons tickets to your favorite game, and sell some unwanted games to equal less expensive entertainment.
    Save the money family gifts you towards a DP
    No furniture on credit.

    Well, it's that easy folks.

    *I am not slamming the couple, they've worked hard but and it's no fault to have luck and some good advantages on their side. The story is lacking though, this situation can't be applied to the average person, it's simply outdated. It's just that most people reading are looking at no assistance, or any financial gifts from family members, are saving for a house or recently bought a house in TODAY'S market, and don't have the excess funds to buy season's passes to anything, regardless if they sell excess tickets.


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