Progress to Date

  • Original Loan Amount: $204,000.00
  • Balance at Beginning of 5-year Goal (1/1/08): $188,983.82 @ 6.00%
  • Balance at Refinance in February 2009: $148,000.00 @ 4.625%
  • Outstanding Balance: $0.00 (PAID IN FULL!!!)
  • Latest Payment Date: April 2011
  • Latest Additional Principal Amount: $17,623.22
  • Amount Ahead of Schedule (since refinance): $121,462
  • Time Ahead of Schedule (since refinance): 7 years 10 months
  • Interest Saved Last Month: $23,972.48
  • Total Interest Saved: $28,435.55 ($1,037.74 on original mortgage; $27,397.81 on current mortgage)
  • Months Remaining in 5-year Goal: 20
  • Average Monthly Principal Needed to Meet Goal: N/A (Goal achieved)
  • Progress List Explained

Wednesday, August 20, 2008

Payday

It's been a quiet August around here. My wife recently received the final paycheck for her summer contract work. That puts us in great shape to make a decent payment to principal this month.

On a similar topic, both of us received raises over the summer. If we stick to our pre-raise budget (always a challenge) then the extra cash should help us keep the momentum going as we move into the autumn months.

Enough with the typing; now back to watching the Olympics!

3 comments:

change is a good thing said...

Look forward to hearing about your progress! I too have been glued to my TV watching the Olympics! :)

The Executioner said...

You in the Pacific time zone have a better viewing slot than we do here on the US East Coast. I've stayed up way too late this week watching live broadcasts.

Move To Portugal said...

It'll be good if you can ignore the pay rises and use the money towards the mortgage, that's what we aim to do in the New Year. Fingers crossed we get a raise! :)