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Big Mortgage Pay-Down

March 6th, 2015 at 05:18 pm

We received our tax return money yesterday, so F and I went to the bank today (popcorn Friday!) to pay down principal.

This was a big pay-down! The return (federal) was $3104 and I put the entire thing toward principal. Our balance is now $57,917. If we don't put any more money toward principal, we own our house in February 2020.

I promised D that when we went below $50k we would have a nice meal out. According to my spreadsheet that happens in September.

Anyway, in the car on the way to F's tennis lesson, we had a big discussion about mortgages and interest and principal. She was pretty into it! I wish my parents discussed these sorts of things with me when I was a kid...

5 Responses to “Big Mortgage Pay-Down”

  1. creditcardfree Says:

    Congrats on a big paydown!!

  2. Ima saver Says:

    Yes, congratulations on the big pay down and the discussion!

  3. Beawealthywarrior Says:

    Awesome!!

  4. scottish girl Says:

    Congratulations!

  5. FrugalTexan75 Says:

    Sweet paydown!

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