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Mortgage Goal 2014 Progress

May 29th, 2014 at 08:00 pm

I have mentioned before that one of our goals this year is to pay down our mortgage debt by over $14K. Specifically, I have a plan to pay off $13,992 which will bring our mortgage balance to an even number. Smile

This month I sent all snowflakes I accumulated to the mortgage, our regular mortgage payment, and two different principal payments that were planned. One of those additional payments is added on at the beginning of the month to our regular payment. The other one happens mid month when my husband is paid again.

Here's the specific breakdown:
_$461.58 Regular Principal Payment
_$103.72 Extra Principal Payment
_$275.00 Extra Principal Payment (mid month)
_$478.01 Snowflakes toward Principal
$1318.31

That extra money sent to the mortgage means we have now paid $6857.13 towards our mortgage pay down goal! That is 49% of the goal in just five months. We are ahead of schedule which feel really nice. Smile

If you want to see where I found over $475 in snowflakes, just check out my previous post. I'm still blogging some over at

Text is Your Organized Friend and Link is http://yourorganizedfriend.blogspot.com/
Your Organized Friend, including a few recent posts! And remember you can sign up by email to get notified when I put up a new post over there. I also love comments!!

Are you ahead or behind on any of your financial goals?

3 Responses to “Mortgage Goal 2014 Progress”

  1. snafu Says:
    1401405418

    Terrific job paying down your mortgage. Given your expectation of selling that house as a result of DH being re-assigned, I hope it's ok to suggest you track your actual mortgage interest savings that results from your extra principal payments.

    Are there any cost effective changes to the house or property that would likely result in a higher selling price? What are important selling features in your community? For example, in this community having an attached garage is important and our realtor thought our 'tricked out' garage was the reason our house sold fast.

  2. creditcardfree Says:
    1401413404

    @snafu, we are in a pretty very new area, thus just having some landscaping, blinds and paint are going to make a difference. I suppose it wouldn't hurt to check with a realtor in the next few months to see what is hot here.

  3. snafu Says:
    1401430252

    When talking to a realtor you might check to which type and slat sizes are preferred by buyers. Do blinds go on sale in summer? It is helpful to have the measurements on a cell phone app in case you find a sale, CraigsList or yard sale or auction. You can get an idea of pricing from e-bay.

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