No. of Recommendations: 6
Not really willing to refinance into a longer term mortgage. Doesn't make sense to me to pay more long term interest for smaller monthly costs since its not a necessity right now.

Seems to me that your goal of paying interest for a shorter period of time is in direct conflict with your stated goal of being able to live on a single salary. The mortgage is 48% of the salary you are trying to live on. Even with significant cuts in other expenses, that's a pretty high hurdle to overcome. Since the limit for qualifying for a mortgage (along with any other debt) is 43%, you wouldn't qualify for your current mortgage using the single salary you have indicated.

You will need to determine which goal is more important, and how you will balance trying to meet both goals.

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