The Condo Mortgage Just Dipped Below $30,000

Although I haven’t mentioned it in a while, we’ve been faithfully attacking our mortgage debt, little by little, every month.  Quite frankly it hasn’t been that exciting.  It really just feels like we pay one huge bill every month and then do it again and again.  This, my friend, is the unglamorous side of building wealth.  You take small, consistent actions every day, and eventually you wake up and find yourself in a position where you’ve actually done something big.

We’re almost at that point.  I can feel it.  Our mortgage just crossed the $30,000 threshold as of a few days ago.  Thanks to the ability to make some unusually large payments this month, we’re quickly approaching the $20,000 threshold as well.  Here’s the data, from when we moved into our place in July 2013 all the way up to now:

mortgage07022015

 

mortgage07022015_principalpercentage

Looking at that last data point kind of boggles my mind.  We actually put 70% of our take home pay in June exclusively toward mortgage payments.  Due to the circumstances of our income this month, this was a one time thing, but we’re very thankful we were able to pay that much this month.

As of this writing we’re only $26,196.49 away from complete debt freedom.  That feels good.  It’s less than a lot of people’s student loans.  It’s pretty much equal to a year of sending your kid to a state university.  It’s less than a brand new 2014 Toyota Camry Hybrid.

sweet ride!

sweet ride!

We’re almost there.  The end is near.  It’s moments like this when I start to get anxious, because the goal has almost been achieved.  Almost there!