Mortgage Payoff Update | Principal Only Mortgage Payment | Paying Off Our Mortgage
HTML-код
- Опубликовано: 11 окт 2024
- We aren’t attacking our mortgage yet as first time homeowners but we are paying it down with two super simple steps!
In this video I cover:
our loan mortgage amortization schedule up to date
our principal only payment
what we've paid on our mortgage Since starting
new mortgage payoff chart
You can watch our last mortgage payoff update from earlier this year here: • Mortgage Payoff Update...
#debtfreecommunity #homebuying #mortgage
More useful home buying videos:
Our House Price & Mortgage Details | Buying Our First Home • Our House Price & Mort...
Our Mortgage Monthly Statement & Balance + 2 EASY Ways To Payoff The Mortgage Faster • 2 EASY Ways To Pay You...
Our House Price & Mortgage Details | Buying Our First Home • Our House Price & Mort...
4 Mistakes We Made Buying Our First House | First Time Home Buying Mistakes
• 4 Mistakes We Made Buy...
Buying A House Playlist:
• How To Buy Your First ...
➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝
WHAT I USE TO BUDGET*
Pens & Paper:
➝ My Budget Printables ➝ bit.ly/pnpbudget
➝ Happy Planner ➝ amzn.to/2MT0Dbx
➝ Paper Mate InkJoy Gel Pen ➝ amzn.to/2DLwFnL
➝ Tombow Dual Brush Pens ➝ amzn.to/2PCEjVe
Stickers:
➝ SimplyKamyCo budget stickers ➝ tidd.ly/7bd846fa
➝ Caffeinated Cait budget stickers ➝ bit.ly/AMLYTCAF...
Cash envelopes:
➝ KateBudgets Cash Envelopes ➝ bit.ly/KateBudg...
Apps:
➝ Capital One ➝ capital.one/2J...
➝ Mint.com
➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝
SAVE MONEY*
➝ Ibotta (Cash back - $20 BONUS) ➝ ibotta.com/r/v...
➝ Rakuten (Cash back - $10 BONUS) ➝ www.rakuten.co...
➝ Fetch Rewards (Receipt scans, referral code, MV7RR) ➝ bit.ly/2G0vEtZ
INVEST & EARN MONEY*
➝ Ellevest** (Investing - $50 BONUS) ➝ bit.ly/PenniesE...
➝ Robinhood (Investing - Free stock!) ➝ penniesnotperf...
**I'm proud to be working with Ellevest to help get more money in the hands of more women. If you open an account through my link ➝ bit.ly/PenniesE... ... I'll earn a commission and Ellevest will give you $50 when you make your first deposit.
➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝
CONTACT ME:
Mary
P.O. Box 240981
Memphis, TN 38124
Website: penniesnotperfe...
Shop: shop.penniesno...
Instagram: / penniesnotperfection
➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝ ➝
**The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. I am not a professional and this channel is for entertainment purposes only.
*Affiliate links. I get commissions for purchases you make through links shown here. It doesn't affect your purchase in any way and the commissions help support this channel. I only recommend items I personally use and appreciate the opportunity to share.
Our Mortgage Monthly Statement & Balance + 2 EASY Ways To Payoff The Mortgage Faster ruclips.net/video/BTdozy98Eq4/видео.html
New subbie! Thanks for sharing. About to look back at other videos.
I can’t believe it has been 6 months since your last mortgage update .... the time has flown. Congratulations on how far you have gotten ahead. Very inspiring.
Time really has flown! I think I did it a bit late the last time so it's more like 4/5 months but I'm going to try to do them each time we do a full principal payment since that's the most progress made. Otherwise it's a slow monthly slog that would be a pretty boring monthly video. :)
*I never thought of that. This is a great way ti visually see where someone is on their mortgage.* 👍
Glad I found this video, I love the paper tracking! What a great way to keep yourself motivated and on track! Nice work!
Thanks so much! 😊
👍great job. I am doing the same start at $160,000 now at $85,000
So exciting!! I work in the mortgage industry so this stuff is always so fun for me to watch!!! : )
Oh cool! Do you enjoy being in that industry?
@@PenniesNotPerfection I do!!!! I Had NO idea what I was doing when I first started but I love it. Helping people get into a home is super rewarding! But sometimes frustrating because some people I want to just hand a Total Money Makeover book! HA!
We paid off our mortgage of 150,000.00 over 15 years. Keep up the good job!!
Niiiice! Principal only payment !! Whaaaaat! 🙌🏽.Oh love that intro! Fits the season! A years worth of payments !!!! Daaammmnn awesome job Mary!! Killing it! You guys got this.
That is truly awesome! Any time you can get that principal down early in the loan is a WIN! Very happy for you!
You guys are doing such an awesome job!!! I also pay extra on my house even though I am not on that baby step yet. But it's be going to save me a ton in interest!
Really Exciting ! Please put additional to the principal , so before you know it house will be paid off ! Thanks for sharing the journey with us!
Wow done with the first page you said? I always appreciate the visuals. It makes it easier to follow where you are in your journey AND your thought process.
🎄 12 ✔️ One page plus coloured 👏 "Consistent effort over time produces results" definitely applies to you Mary. 🙌 Chart idea: number of payments you have to make, i.e. 300, 299, 298 descending to 0 inside the wee houses! Motivating seeing it go down. TFS ☮️
Oooh love that chart idea!! I’m gonna make one!
Ohhhh I need this schedule for my mortgage. I'd love to see where I am. I round up each month and send extra from my taxes each year.
Yesss great idea! We round up and pay biweekly and it’s really making a dent but we don’t even feel it. Your mortgage company can give you one of these you can also make one on your own with all your mortgage details.
@@PenniesNotPerfection thanks definitely going to request one.
This is so awesome!!! Love this type of video. Yes, dong these types of videos twice a year is just perfect!
Yay! I'm so glad! I think for now two a year is perfect because we don't make a ton of progress monthly but every six months you can see it add up and make a nice jump. I love sharing!
Congratulations on your principle payment.. Great job..
Thank you!
This is amazing i cant wait to start getting more active with paying off the debt!
That is awesome!! That must feel amazing getting closer to paying down the mortgage!! Great video!!!
It does feel good! Much more fun than other debts we pay, haha!
Congrats on your journey to free and clear. I wish I had a 150k mortgage. ;). My first home is at 260k and my second at 430k.
Great progress. Really like looking at how far you are ahead and the visuals you use it's very motivating. Thanks for sharing.
i just paid off my mortgage on 09/26/24, this was part of my method, pay your mortgage a month in advance, then start making your mortgage payments weekly, not bi-weekly, thereby the interest is always lower since it is off a lower. principle.
Amazing work! Congrats on being mortgage free!
Principal only!! That’s what I’m talking about 😄👍
Thats awesome and exciting! 300 more to go! I can't wait to pay off my mortgage as well. Altho I just refi (30yrs) my home to save interest ($600/month) I'm hoping to pay it off in 12 years 🤞 as always thank you 🤗
Yayyyy...this is so awesome. I'm overdue for my mortgage payoff update, but what's new...LoL
I'll be looking! I love your mortgage payoff updates!
Rather than paying an extra $600 on principal twice a year, why not pay an extra $100 per month? Its the same extra payments per year ($1200), but it will bring down you balance faster.
You can definitely do it that way! One benefit on the biweekly for us was making budgeting easier with two smaller payments rather than one bigger one.
Loved the message at the end.👍🏻 Congrats on all your progress!😊
What is the best way to send in extra mortgage payments? It's also extremely important for me to let them know the money only goes toward principal. Any suggestions? Thank you so very much!
I can’t tell you because it depends on the company that has your mortgage. They all do it differently!!
Once you find out how to send it in then yes you need to make sure its marked for principal balance payment only.
This is wonderful Mary! 🤩
Wow! That excitement, I can feel it through the screen.My type of woman 😀
Bump City 🤣 just wait til it’s paid off
Nice job, Mary!!! Principal only 👏🏻👏🏻👏🏻
Omg i was like noooo two more payment to get done 2021 lol but maybe with ur next payment well the last of the year and like that u start off the new year with 2022 payment lol
Where to go to pay the principal of the mortgage?
Hi I’ve seen ur videos… I just want to know which is best pay extra money to principal or extra pay of mortgage… how much money for principal and how many times I’m a year.. if mortgage do I need to pay extra mortgage payments ?
Whoop Whoop!!!! Go you guys! This is awesome!!!
That is such great news.
Yes! Trying to be like you with a paid off house!
you should look into when you can get rid on the PMI payment.
We already have! Here’s a new video for you
Mortgage Refinance & Closing Cost Details (Real Numbers & Paperwork) | Mortgage Payoff Journey ruclips.net/video/7Lq6-0OnQC4/видео.html
I second or third (i saw a few other comments) that this is a great idea :)!
Vlogmas replay 2021 colouring in your progress ahead to 2021 payments and here we are in 2021 😂 have you had your principal only this December too?
On 11/29 actually 💪
Yasssssss!!! So satisfying ❤️😍
So exciting!
How Do you print the Amortizasion sheets?
I’m using the ones I got from closing but you can usually get one from your lender or make one using a spreadsheet.
Consistency is truly key isn’t it
Does everyone get these sheets when they close on their home? I will be closing on my home April 27th and i would love to have everything outlined like this
Yep! You should get one! This came with our paperwork when we signed so you will get it at closing. If not ask for it and mortgage companies can give you one. :)
No some companies make you pay for one.
Do you put more money on you escrow or interest cause This is crazy cause mine come 3 bill in one together together in one bill
I don’t put more toward that but it sometimes changes based on increases in taxes.
Great!!! First page DONE!
🥳
Please contact your mortgage company and see if that PMI is ready to come off!!!
It’s an FHA loan. Pmi is for life of loan unless we refinance. It hasn’t been worth it yet to refinance because we couldn’t get a lower rate than what we had. Believe me I’ve checked. We may look at refinance options again but so far it hasn’t been a financially smart option.
Gotcha😉 just covering the bases! Love the video!
I have a FHA loan as well and was able to have PMI removed. You have to have paid at least 20% of the loan. Speak to the mortgage company. I was told the samething until I asked.
You will pay this off in 10 years!! Does the bank sent you the paper you were highlighting? We entering home ownership soon so trying to gather good information.. thanks
Sorry for the delay but this was from when we bought our house. Your mortgage company can send you one or you can make one too!
Now that you are ahead of the loan payments, have you considered recasting the loan??
I refinanced in 2020!
Mortgage Refinance & Closing Cost Details (Real Numbers & Paperwork) >> ruclips.net/video/7Lq6-0OnQC4/видео.html
You are doing great this is awesome however there are more things can be done ✔ by tweaking it little more and say spare few hundreds a month.
Congrats!!
Every extra dollar you pay each month goes to principle. Why dont you make your monthly payment larger ?
This is an old video so what we do is different now so I'm honestly not sure how to respond to this. But most companies you have to specifically say you want the extra to go to principal. They don't all automatically do it.
Awesome job.
Thank you!
My credit union will only allow extra payment on loan due date monthly
Well at least they allow extra payment at all! Bright side!
I like to eliminate it off the end instead of eliminating current payments.
Good job!
Thanks 🙏
Good video 😊📸.
Wow👍 Respect
I got so confused. I thought you had 12 payments to make in January then none for the rest of the year. Then I remembered you crazy Americans do the date the opposite to me 😂
Many people focus on pay mortgage faster and never update anything on property when done with payments after 20 years that home look old and ugly 😱
That can be true! Our house was redone by a flipper right before we bought it so currently not much has to be done. We have updated some basic stuff already though.
Jealous of that principal payment.
Haha what’s yours? We also might be refinancing for a better one too! 🤣