March 2017 – Mortgage Payoff Update

At the end of March, our remaining balance is at 41.06% of our original mortgage that we took out in 2007. That’s a reduction of 1.50%.

How much longer?

Once all of March’s payments are applied, we’ll have reduced our balance by about $2050 this month. That means we’ve broken through the $56k barrier. Currently, with the new monthly figures in place, we’ve got 23 payments left! That means our last mortgage payment would be applied on March 1, 2019.

There weren’t really any extra payments made this month other through the day job’s salary, a small job through the side business, and some other minor income amounts. We also had some expenses that took away from the progress this month, but it didn’t affect the number of remaining payments. It’s helpful to know we’ve got a bit of flexibility and still stay on track.

Photo by Tax Credits

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