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Mortgage Chips To Date

February 4th, 2014 at 05:20 pm

I made my very first mortgage chip on this mortgage in February of 2013. That first month, I saved $.09 of interest. This month, I saved $2.02. While it is still not much, it is picking up speed. Smile This coming month, even with no new chips, I will save interest on $600.01 + $9.33, which will amount to $2.09.

Update: And there will definitely be new chips, as I just now chipped another $13.19 from credit card rewards redeemed today.

My mortgage payment posted today, bringing the balance down to $174,823.64.

Chips this month:
CC rewards $108.64
budgeted extra $18.62
wallet sweeps $13.00
HauserNet $8.00

Chips this month: $148.26

Chips to date: $600.01

Interest savings this month: $2.02

Interest savings to date: $9.33

Eventually, the interest savings on the chips I have already made will compound to $1,359.50, provided I own this house until the mortgage is paid in full.


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