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A mortgage update

March 21st, 2011 at 02:15 pm

Four months ago, we refinanced and opted to go down to a 15 year mortgage, which meant an increase in our mortgage payment of $287. We really like how we are paying down the mortgage fairly quickly. Usually,we try to pay an extra $148 every month, which at the end of the year will equal to one extra payment a year. I just activated an automatic transfer for an additional $150. The total extra principal this month is $2 shy of $300. In the amortization chart, the amount we owe today should have been the amount we would owe on June 1st. I'm proud of my (our) efforts.

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The first full day of Spring came with snow in northern NJ! ;(

5 Responses to “A mortgage update”

  1. PNW Mom Says:

    That's awesome regarding your mortgage! Congratulations on getting that paid down Smile

  2. Petunia 100 Says:

    That's great! That mortgage will be gone before you know it.

  3. jkay93 Says:

    Congratulations on the mortgage! My condolences on the snow......no one should get snow on the 1st day of spring!

  4. mamas debt time out Says:

    Cool! As for snow in spring, us too in MA (: We also got sleat, rain, and hail. Apparently, winter doesn't want to leave, like a bad date. lol.

  5. LittleGopher Says:

    Yay on the extra to your mortgage - boo to the snow :-)

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