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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.


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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