WOO-HOO, I just locked in a 4.375 Rate on a 15 yr Mortgage compared to the 6.0 30 year I had prior.
My Payment is going down $10, and I will have my house paid off in half the time!! AWESOME!!!!
Time to party!
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WOO-HOO, I just locked in a 4.375 Rate on a 15 yr Mortgage compared to the 6.0 30 year I had prior.
My Payment is going down $10, and I will have my house paid off in half the time!! AWESOME!!!!
Time to party!
Congratulations! How many years did you have left on your 30 year mortgage?
Wow. That is amazing. Through who?
Through a buddy of mine who works at Guaranty Bank out of Cedar Rapids. I'm stoked.
I had 27.5 years left!
Well done! Thats less than my student loans.:sad:
A 30 year fixed won't be much higher than that in a month or two.
Got ya beat. I re-fi'd from a 30yr 7.25 to a 15yr 4.25 about 5 yrs ago.
My payment pretty much remained the same.
Congrats! That's awesome. Now go spend some money you cheapskate. :smile:
I live in CR. Hopefully I can find a friend in the banking biz.
Now just make an extra principal payment every month and get it paid off in 7! It really does not take all that much at the beginning of the loan, usually it only and extra $200-$300 a month.Quote:
Originally Posted by tzjung
how many points and fees did you pay 4%!? I would actually prefer to know your APR. Either way it sounds like it worked out as you shortened your term saving you a lot of interest in the long run
1 Point...but my buddy is going to try and give me the inside .25 bargain, for a total of .75.
Pretty good deal IMO...
Anyone on here do re-fis for a living? I'd like to check out a 15 year!
I can't get the math to work on this unless the re-fi loan amount is around 22% less than the original loan.
i can get you 4.375% today with .75% as well right here in des moines.
Quote:
Originally Posted by CycloneChris
It is...our original loan was FHA where we put 3% down. I'm putting down full 20% now so I can get rid of PMI. Should have mentioned that. :smile:
You're math is correct!