Loan Balance: $86,780.44
The pay-off date is now
Continuing to pay an extra $313 a month is really helping us move closer to our goal of moving in June of 2020 (our original 5 year deadline)
In order to move, we are hoping to have at least $150,000 of equity to use as our down payment to allow us to keep a smaller mortgage despite our high cost of living area.
If we sold our place today, we'd walk away with $138,819.89... (assuming our place is worth $240K and we pay 6% closing costs).
Getting the Keys...
It took me $7,057.08 to get the keys to my condo and then I spent another $17,672.29 to remodel and repair it... In short, I was -$24,729.37 in the hole on day one...
2016 Housing Costs: $18,869.45, Saving us $1,986.55!
- Earthquake Insurance: $153.00
- Homeowners Insurance: $333.00
- HOA: $4,150.00
- Mortgage / Property Tax / Additional Principle: $13,651.85
- House repairs/Fixes/New Front door lock: $581.60
All of that "math" leaves us $2,325.69 in the green before we even talk about equity a mere 7.25 years later! Like the wise always say, if your going to be in the same place for 5-7 years, buying makes since!