Debt Reduction, Mortgage

Paying Off Our Mortgage – Update For February 2017 With Chart

My wife and I are working to pay off our fixed-rate, conventional, fifteen-year mortgage. Our goal is to eliminate our mortgage debt in less than 10 years.  We have been paying off our mortgage for 7 years now – and it’s cool to see more and more of our monthly payment go towards our principal.  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 – 42% – and the amount we still owe – 58%. Our process is pretty simple –…

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Mortgage

Paying Off Our Mortgage – Update With Chart July 2016

My wife and I are working to pay off our fixed-rate, conventional, fifteen-year mortgage. Our goal is to eliminate our mortgage debt in less than 10 years.  We purchased our home in February of 2010 – so we have a little over four years to reach our goal.  (Realistically, it looks like it might take us a total of 12 years – but we’re still trying!) 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 – 38.15% – and the amount…

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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 – 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…

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