tag:blogger.com,1999:blog-1893129263573703047.post3994028193186271543..comments2024-03-28T00:13:55.918-07:00Comments on A Frugal Family's Journey: Mortgage Balance (UPDATE) - JULY 2018A Frugal Family's Journeyhttp://www.blogger.com/profile/05093532273552790517noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-1893129263573703047.post-51368344487764821632023-05-21T20:38:32.970-07:002023-05-21T20:38:32.970-07:00Thanks for this blog posstThanks for this blog posstSmoked Recipeshttps://www.smokerfoodies.com/smoked/smoked_brisket_6072770565.shtmlnoreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-81131611248621997362018-07-21T17:26:50.975-07:002018-07-21T17:26:50.975-07:00Thanks. Unfortunately, we refinanced three times b...Thanks. Unfortunately, we refinanced three times before we finally ended up with a 2.875% rate. We initially started with an interest rate above 6%. Good thing is we never paid points, but we did pay some fees each and every time. <br /><br />Believe it or not, the principal was greater than the interest from the very first payment (since our last refinance). It has been roughly 5 years since and we are slowly approaching the point where the principal will be twice what we pay in interest! <br /><br />Thanks for visiting. Best wishes and success on your personal journey! AFFJA Frugal Family's Journeyhttps://www.blogger.com/profile/05093532273552790517noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-36672627359006106872018-07-19T16:24:01.763-07:002018-07-19T16:24:01.763-07:00Hi AFFJ,
I don't include the house value in my...Hi AFFJ,<br />I don't include the house value in my "wet worth" either as I only really track more liquid assets. Congrats on getting such a low interest rate!<br /><br />I must admit I enjoy looking at my monthly mortgage payment and seeing the principal payment amount increase a little bit more each month. How soon until the principal payment is greater than the interest payment, or have you reached that already?<br />Wishing you all the best,<br />-DLDividend Lifehttp://dividendlife.comnoreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-84208107182056291972018-07-18T21:49:13.204-07:002018-07-18T21:49:13.204-07:00Its a tough decision because it is a guaranteed 2....Its a tough decision because it is a guaranteed 2.875% (compounded for the remainder of the loan life) vs. the potential returns (or losses) on other investments vehicles. At the end of the day, it is a choice of risk vs. reward and what you are willing to give up for the potential reward. <br /><br />Thanks for the comment. Best wishes and continued success on your personal journey! AFFJA Frugal Family's Journeyhttps://www.blogger.com/profile/05093532273552790517noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-16346450599488880402018-07-18T21:45:27.998-07:002018-07-18T21:45:27.998-07:00People tell us that 9 years goes by fast but since...People tell us that 9 years goes by fast but since we count down each and every month, time seems to go by too slow. haha<br /><br />Appreciate the visit. Best wishes my friend. AFFJA Frugal Family's Journeyhttps://www.blogger.com/profile/05093532273552790517noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-41949378276349103532018-07-18T21:44:13.389-07:002018-07-18T21:44:13.389-07:00I must admit, it is pretty awesome watching the nu...I must admit, it is pretty awesome watching the number balance drop simply by making the normal mortgage payment! ;) Thanks for stopping by. <br /><br />Best wishes and success on your personal journey as well. AFFJA Frugal Family's Journeyhttps://www.blogger.com/profile/05093532273552790517noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-1118768043014078182018-07-18T21:42:20.864-07:002018-07-18T21:42:20.864-07:00Right!? Its hard to put more towards principal whe...Right!? Its hard to put more towards principal when the interest is so low. :)<br /><br />Glad we connected. Look forward to following along on your journey to FI. Best wishes. AFFJA Frugal Family's Journeyhttps://www.blogger.com/profile/05093532273552790517noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-74095945148755478982018-07-18T08:49:25.743-07:002018-07-18T08:49:25.743-07:00It's good to see the mortgage balance moving i...It's good to see the mortgage balance moving in the right direction. You make a great point about not paying down the mortgage early, at least not right now, given the low interest rate. I'm in a similar situation and trying to decide if I want to pay off my mortgage early. I've decided against it (for the moment), but who knows what the future holds.<br /><br />Looking forward to following your progress along the way.Dividend Portfoliohttps://www.blogger.com/profile/11906423996617586742noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-54202696144796138042018-07-17T05:27:07.538-07:002018-07-17T05:27:07.538-07:00That really is a nice chunk of house you own there...That really is a nice chunk of house you own there. I'm sure it won't be too long and you'll own the whole thing! Well done to you!Buy, Hold Longhttp://www.buyholdlong.comnoreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-46465815543386263662018-07-16T18:30:45.640-07:002018-07-16T18:30:45.640-07:00With a 15 yr mortgage you are turning the corner a...With a 15 yr mortgage you are turning the corner and that equity owned is gonna start accelerating. Hope you and yours keep it up. Ken-Khttps://www.blogger.com/profile/16300956470113874628noreply@blogger.comtag:blogger.com,1999:blog-1893129263573703047.post-38896615410128842672018-07-16T13:05:55.341-07:002018-07-16T13:05:55.341-07:00AFFJ, That's a nice chunk of home equity. I&#...AFFJ, That's a nice chunk of home equity. I'm pretty debt averse, but with such a low interest rate I can see why you would not pay it off early and use the funds for better returns elsewhere.<br /><br />Thanks also for putting DD on your blog list!<br /><br />TomTom @ Dividends Diversifyhttps://www.dividendsdiversify.comnoreply@blogger.com