January 2017 – Mortgage Payoff Update

At the end of January, our remaining balance is at 46.1% of our original mortgage that we took out in 2007. We had some extra money to apply towards it this last month since I had stockpiled a bit during a job transition. I ended up deciding that now was a good time to apply it to the mortgage and knock it down some.

How much longer?

We’re almost at the point of breaking through another barrier. When I say barrier, I mean crossing the line of another 10k mark. It’s possible that by the end of the February, we’ll have crossed that barrier. At that time, I should also have a better idea about how many more months will be left before it’s paid off. I’m shooting for the end of 2018 at the absolute latest! Currently, we’ve got 49 payments left if we didn’t put anything extra towards it. That means our last mortgage payment would be applied on April 1, 2021.

Photo by Tax Credits

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