A sort of secret goal that I had for this year was to pay more in principal than I did in interest on the mortgage. As of this month (maybe last month, I didn't do the math) I have accomplished that goal. That is mostly thanks to the raise that I received (half of the net amount of the raise has been going to the mortgage).
Year-to-Date Totals | |
---|---|
Principal | $6,283.81 |
Interest | $6,018.77 |
The current balance of the mortgage is $210,382. I should easily make my goal of getting the mortgage under $210,000 by the end of the year. My goal is to get rid of the PMI by the end of next year. However, if I can get just get the mortgage under $200,000 I will still be quite pleased.
Yes, Get rid of that PMI!!! I hate PMI - like with a vengeance hate it. Worse than interest rates. LOL You will feel such a relief when you get there. That was my one caveat when building this house, we would have a loan with zero PMI.
ReplyDeleteI can't wait until its gone. If I do things right my next house/mortgage won't have PMI!
DeleteThat is great. PMI is such a rip off.
ReplyDeleteIt's so ridiculous and costs a fortune.
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