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8 comments:
I don’t know about your situation but 15 years is a long time to be stressed about a home payment. Get the 30 year payment so that you can live easier and pay that measly .75% more a year and cut your payment in half.
Assuming that you have plenty of money to even get into a 15 year mortgage, then I am guessing that with your new 30 year payment, you should have plenty more to pay against principal to combat that extra .75% Remember that $ 50 extra a month cuts off 7 years off the life of the loan.
I am 30 right now and they is no way in hell that I am going to struggle and be stressed out until I am 45. Money is money. My life is more important to me so I would rather live easily and have a paid off house when I am 70.
Go for it. Get that BMW you always wanted too because with half the payment, you can afford it now!
mortgage information
I, on the other hand, prefer financial stress in my life. ;-) We're refi'ing to a 7/1 ARM at 3.5%, amortized over 30 years. Oh, that new minimum payment is so, so low! Paaaaaarrty time!
How long until negative interest rates? That would prop up the housing charade.
Dokemion, I don't want a BMW.
W, we may get there. I wouldn't be surprised if we see 2-3% for 15-year fixed in the next few months. Then, who knows? I hear rumors of 0% mortgages from the government. I think it's crazy, but if that's available I am taking it.
how many points and what are the fees?
Yep I think with Uncle Obama in charge we will have free homes to those making less than fifty thousand a year...yep let the rich who make 51K+ pay for my house and I'll vote for him in 2012...I'm checking out homes in River Oaks that I want when we get real equality in this nation...I wonder if I will need my green card, hope not.
Obama is going to pay my mortgage. We all laughed.
I have a 10 year mortgage and just re-fied it AGAIN to save myself FIVE payments on the back side. Insane.
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