The mortgage is the only debt we have. My husband will retire from the military at age 60 (11 years from now). The house is due to be paid off in April 2024 but I know we can do better. I am starting this blog to document every monthly payment, snowflake payment & large sum of $$$$ that I throw at this monster.
Here are my starting numbers.
Balance: $116,145.91
Interest rate: 4.625%
15 year loan starting on April 2009 - we have paid a little extra here and there so I am not sure when our actual payoff date is. I will request an amortization schedule at the end of the year
November Payment: $1714
$848.88 - Principal
$450.92 - Interest
$334.20 - Escrow
$81 - Additional Principal
Future plans:
$100 - Additional principal monthly (want to add an additional $100 every year until mortgage is paid off)
Use credit card rewards every other month. This will be a small snowflake (about $30 every other month). We only use the card for gas and groceries.
Anyone else on this journey with me?
Here are my starting numbers.
Balance: $116,145.91
Interest rate: 4.625%
15 year loan starting on April 2009 - we have paid a little extra here and there so I am not sure when our actual payoff date is. I will request an amortization schedule at the end of the year
November Payment: $1714
$848.88 - Principal
$450.92 - Interest
$334.20 - Escrow
$81 - Additional Principal
Future plans:
$100 - Additional principal monthly (want to add an additional $100 every year until mortgage is paid off)
Use credit card rewards every other month. This will be a small snowflake (about $30 every other month). We only use the card for gas and groceries.
Anyone else on this journey with me?