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 –
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.