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 –…
Continue Reading→Category: 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…
Continue Reading→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…
Continue Reading→