Friday, June 8, 2012

Principal Progress

In updating our numbers for this month, I noticed that our primary mortgage is now diminishing at the rate of more than a $1000 a month.

Whoo-hoo!!  That is cause for celebration in my mind (no it doesn't take much at all to get me excited).

When we pay our regular mortgage payment, we are putting $617 towards principal.  Then when you throw in the extra payment of $415 a month, that adds up to $1032 in principal.

I actually didn't notice that we've been making this $1000+ principal payment progress since, about, October 2011.  I know we are paying extra each month, but it didn't all add up until just now.