Debt Reduction, Mortgage

Paying Off Our Mortgage – Update With Chart September 2015

It’s time for a new chart!  We are working to pay off our fixed-rate, conventional, fifteen-year mortgage. Our goal is to pay it off in less than 10 years.

I use a simple pie-chart to track our progress – and post our updates here at No Credit Needed.

Having a visualization keeps us motivated!

Here’s a chart with details for our current progress –

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The percentages above represent the amount of our mortgage we have paid – 32.83% – and the amount we still owe – 67.17%.

Each month, we make our scheduled mortgage payment, plus an additional principal-only payment.

Some months, we make more than one principal-only payment!

This chart doesn’t represent our entire equity – It represents that amount we still owe on our mortgage.

We have reduced the length of our 15-year mortgage by 8 months!

Check back often to see how we are doing! Blessings.

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