We made the first payment on the real estate loan we took out last month. Of course, part of it went to interest (almost $30). The large majority of it went toward the principal though. It was nice to see that initial drop. Hopefully it will drop much more next month. We took out a three year loan only to keep the payments very manageable in case something happened. Our goal all along was to pay more each month. We decided on a goal of 18 months to definitely pay it off, but we really want to pay it off in one year.
First Real Estate Loan Payment
August 17th, 2007 at 08:12 am