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Joined: Dec 2002
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Campfire Ranger
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My place I bought 3 years ago is 30yrs at 3.25%, but I will pay it off early.


"...the designer of the .270 Ingwe cartridge!..."

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EdM Offline OP
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Originally Posted by Nebraska
Originally Posted by EdM
I just closed on a refinance of our primary residence at 3.2% APR for 15 years. No points and little cost to close.


BTW - who did you go with and what did you do to shop around??


I went to a few local mortgage firms and they all wanted to sell off my loan to someone else that looked strictly at my pension income and not my worth. Chase, who we bank with, was well aware of my worth so were more than welcoming.


Conduct is the best proof of character.
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Campfire Ranger
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David what a kind thing to say, thank you, sincerely

I believe it is indeed what we're designed to do encourage the good in each other

I applaud you for your charitable giving and it truly makes me happy to see that universal law at work. The more we give freely and of our own volition the richer lives we lead both financially & emotionally

No wonder you're one of the faves of the fire. You're a class act my friend


I'm pretty certain when we sing our anthem and mention the land of the free, the original intent didn't mean cell phones, food stamps and birth control.
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Campfire Ranger
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When we moved into the new digs last year we financed it for 15 years at 3.25%. If things work out with my new endeavor and my wife's firm, the goal is to pay it off in 1/2 that time.

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byc Offline
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yup...again anyone not paying at minimum an additional 100 bucks towards their principal is missing a huge opportunity towards an early exit.

AND huge savings!


Proud to be a true Sandlapper!!

Go Nats!!!!


IC B2

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Campfire Outfitter
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Yep, you're right Ed. On the new place we just bought in December we locked in 3.35% for 15 years. I'll never do a 30 year mortgage again and never should have in years past.


Mercy ceases to be a virtue when it enables further injustice. -Brent Weeks

~Molɔ̀ːn Labé Skýla~
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Campfire Ranger
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Originally Posted by byc
Originally Posted by 2legit2quit
Not much more tickles me than to hear some of my campfire compadres doing well in this life.

Certainly been blessed here

But love hearing you guys talk about your successful ventures and your future dreams


Randy you and your encouragement towards extended charitable contributions has certainly provided me with a positive reap and sow.

No doubt this is also bearing fruit for you and Mama!! grin

Thanks bud!



I'm in this camp.....which IMHO is what life is all about. It always comes back around too, abundantly. I haven't had a mortgage since 2002 (age 43) and prefer it that way.


It is irrelevant what you think. What matters is the TRUTH.
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Campfire Oracle
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Originally Posted by SockPuppet
Yep, you're right Ed. On the new place we just bought in December we locked in 3.35% for 15 years. I'll never do a 30 year mortgage again and never should have in years past.


There's nothing wrong with a 30 year note either. If any of you can tell me how your life will be with 100% certainty in say 10 years, I'll kiss your sister's black cat's ass.



It's NOTHING to pay more into, but if for some unforeseen circumstance, the extra nut can't be made it's not the end of the world.


"Dear Lord, save me from Your followers"
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Campfire Tracker
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Originally Posted by Nebraska
Originally Posted by EdM
I just closed on a refinance of our primary residence at 3.2% APR for 15 years. No points and little cost to close.


BTW - who did you go with and what did you do to shop around??


Nebraska are you a member of AAA? I did my refi last fall thru them and got a rate of 2.875. I know they are up a little now but I found them to be the most competitive.


Molɔ̀ːn Labé Skýla
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Campfire Tracker
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Originally Posted by Rock Chuck
I remember doing a refi and we were very glad to get it down to 6%. It's been paid off for 8 years now.


Us too. We refinanced at 6.25% for 15 years in the late 90's. Paid it off early in 2010. With just the wife and I here we have no intentions of going elsewhere, but as Jeff said earlier in the thread we're going to make some updates over the next few years.

Mike


Know fat, know flavor. No fat, no flavor.

I tried going vegan, but then realized it was a big missed steak.
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Campfire Oracle
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I have to look around, I'd need better than 3.2% to make me refinance. I ain't going through the aggravation for 1/2 point.

If I could find a 15 year at @ 2.75 or so it might be worth it.


"Dear Lord, save me from Your followers"
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Campfire Oracle
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But Ed is certainly right about 'cheap' money. I took out a personal loan to redo the kitchen and at the rates you can get money it makes not sense to invade my savings.


"Dear Lord, save me from Your followers"
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Campfire Tracker
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For anyone looking at doing a refi here is a mortgage calculator that also lets you apply extra payments and you can then see how much interest you will save yourself by doing so.
Pretty motivating to make those extra payments when you see how much can be saved.
http://www.bankrate.com/calculators...2015&ic_id=mtg_calc_amortization_btn

Also if you are thinking of rolling your refi costs into the loan you can also see how much more in interest that is going to cost you as well.
can be rather surprising.

Last edited by Paul_M; 02/06/16.

Molɔ̀ːn Labé Skýla
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We have a 30 year at 4.0%, aggressively paying extra and on pace to pay it off in 4 years. Much like my low interest student loans, I understand we would likely be better off putting the extra $ into the market instead of applying it to the debt. Math don't lie. But, the emotional high I get from paying debt off feels almost as good as blow and hookers, so I'll just keep paying the [bleep] down until it's gone.

Last edited by Techsan; 02/07/16.
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