House Mortgage -- Countdown

[Randomsaver]

Mortgage Principal : $48K

Businesses starting to open up...hope a vaccine won't be too long.

[Randomsaver]

Great updates on refinances here! It's all about the savings.

[breathemusic]

I also initiated a refinance.... back in march when interest rates tanked and my credit union is just now finally getting to mine in the pile and doing the paperwork. But they knew about the backlog and extended validity dates so my offer rate was locked in!

Original loan $585K 30 year jumbo @ 5% fixed interest and no PMI, payment was around $3,200 plus another roughly $600 into escrow for taxes and insurance, total of $3,800, with 27 years left on the mortgage.
New Loan is for around $570K, restarting a 30 year jumbo, new interest rate is fixed at 3.375%, still no PMI and I'm taking over the payments to taxes and insurance so that I don't go through escrow anymore. New payment will drop down to about $2,530 plus I'll still set aside $600 each month into savings for taxes and insurance, so the monthly expense will still be around $3,130. A HUGE savings!!

I don't plan to make any extra payments now, because I'm saving up for a massive kitchen remodel next year and anticipate future projects after that. But I do expect that in the next few years I'll start tacking on some extra payments to ultimately pay off the loan early!

[Jluke]

Initiated a refinance this week.

original loan: 3.875% for 30 years. Dec 2017. $940/month. 24 years left (extra payments)

refinance: locked 3.125% for 20 years. $1000/month. $3700 closing costs.

About 30k savings in interest and knocks off 4 years on existing mortgage.

[james.hendrickson]

Mortgage Principal : $49K

Here it is guys, the pic as promised.

Great job Randomsaver, I'm a bit jealous.

[Randomsaver]

Mortgage Principal : $49K

Here it is guys, the pic as promised.

[greenskeeper]

April payment STILL including extra principal Chinese virus be damned....$81k to go.

[james.hendrickson]

I'm at $325,550.57, so far $1,163.35 in principle paid off this year.

[Randomsaver]

I can't wait to get this down to $50K. When that happens I will take a pic of it and share here.

[Randomsaver]

Happy Valentines!

My Valentine's gift to my mortgage lender, additional principal payment. <3

Mortgage Principal : $53K

[Jluke]

Nov 2019: $183,730

.

Mar 2020: 179,990

2300 extra YTD. Will try to hold off any more extra until December.

[mumof2]

Jan 2020 payment....$84k left

good job you are getting there

[greenskeeper]

Jan 2020 payment....$84k left

[Randomsaver]

Merry Christmas to y'all!

Mortgage Principal : $57K

[greenskeeper]

December payment....$86k left