what rate do you have on your home?

[HoldemPlayer]

just refinanced some commercial property and we went from prime +1 to prime-.25.....now the feds lowered rates .75.... man i feel good :rock:

what kinda rates did yall get on yalls homes? cars? etc..

[Scr4ppY]

I dont have any loans or anything in my name but a customer came in the otherday and got approved for a 30yr fixed term mortgage refi at 4.89, which is the lowest ive ever seen.

[bowfinger]

^that is low, i have mines at 6.2 30yr fixed.

[azinwood]

back in 2004 when we bought our house it was the ideal time. we got 4.5% on a 15 year fixed.

[tit$]

going to refi my home this week probably - 6.5% now.

i'm pretty lucky to have a mortgage broker office right next to me, even better that he wants me to hook up with his daughter. COME TO POPPA LOW INTEREST RATES!!

[tdo]

back in 2004 when we bought our house it was the ideal time. we got 4.5% on a 15 year fixed.
I'm jealous! 6.125%

[IIIVOVE]

5.95% 30yr. just purchased last september.

[Belly]

6.25% 30 yr fixed

[Doug]

6.5% on 30yr fixed and fucked up credit.

[PIYF]

Eh, so much for the other thread.

80 = 6%
20 = 8%

[ErIK]

I dont have any loans or anything in my name but a customer came in the otherday and got approved for a 30yr fixed term mortgage refi at 4.89, which is the lowest ive ever seen.

Damn thats low, my parents got their 30yr fixed at 4.99 but that was in 2004

[RACER X]

something you 30yr peeps need to see.

finance $160k @ 5%

30yrs = $309,207 payments $858
20yrs = $253,200 $1055
15yrs = $227,700 $1265

point is, if you can get it down to a 20 or even 15 yr note, you'll save ALOT of $ in the long haul.

and yes if buying a lesser house is the way, its way smarter a decision.

[DC]

I'd like to refinance my home at a lower rate, but I just bought my house last summer at 5.875%, which was pretty damn good at the time. Don't know if I can refi now, but I'd like for it to be at least a point lower to be worth my time.

[Flores]

something you 30yr peeps need to see.

finance $160k @ 5%

30yrs = $309,207 payments $858
20yrs = $253,200 $1055
15yrs = $227,700 $1265

point is, if you can get it down to a 20 or even 15 yr note, you'll save ALOT of $ in the long haul.

and yes if buying a lesser house is the way, its way smarter a decision.

Or you could just make more principle payments on the 30 year, and get it paid off early. assuming your not like so many people, barely makin it paycheck to paycheck.

we did a 30 year, just to keep the required payment low. House will definitly be paid off early, just not sure how early. throwing an extra 2 or 3k a year towards the principle on top of the regular payments gets those numbers down in a hurry.

[RACER X]

Or you could just make more principle payments on the 30 year, and get it paid off early. assuming your not like so many people, barely makin it paycheck to paycheck.

we did a 30 year, just to keep the required payment low. House will definitly be paid off early, just not sure how early. throwing an extra 2 or 3k a year towards the principle on top of the regular payments gets those numbers down in a hurry.

good point, but i think it's easier said then done. i mean from 30yr to 20 yr = $200 diff. per month. Is it easier to just pay the $200 EVERY mos. or wait till end of yr, pay $2400 + property tax + income tax.

if your disciplined enough, more power to ya, but most aren't. that $200/mos is easier spent on "necessity" that aren't really necessary, then come end of yr, and you don't have any extra to pay down the loan.

[tit$]

I'd like to refinance my home at a lower rate, but I just bought my house last summer at 5.875%, which was pretty damn good at the time. Don't know if I can refi now, but I'd like for it to be at least a point lower to be worth my time.

if you can find a lender that will drop you a point off your rate its worth it, otherwise i'd leave it. usually not cost effective to do for less than 1 point.

[HoldemPlayer]

Or you could just make more principle payments on the 30 year, and get it paid off early. assuming your not like so many people, barely makin it paycheck to paycheck.

we did a 30 year, just to keep the required payment low. House will definitly be paid off early, just not sure how early. throwing an extra 2 or 3k a year towards the principle on top of the regular payments gets those numbers down in a hurry.


i've come to the conclusion that paying off your home is a bad idea, dead equity in your home is wasted money...

refinance and pay 6% interest, invest that money and make 10%+ and you have 4%+ that you would not have had before.

you never actually own your home, if you dont pay taxes, the government takes your home.

anyone have any comments or corrections? im open to hear

[grnlude97]

I just signed the mortgage paperwork yesterday at 5.625%. Not as good as I hoped but not bad overall. I got a great deal on the house so I guess it gets made up somewhere.

Daniel :)

[Scr4ppY]

I meant to post this earlier but I saw a customer with a 4.21 on a sub 200k house. He bought down the rate though, and it was a 15yr fixed. Anyone who owns a house right now I recommend doing a refinance. You have nothing to lose, and MOST banks (at least wells fargo) pays for most of the fees to get you're house refinanced.

[dTran33]

i financed my current home for 15-year fixed at 5.65%, but I am about to buy a new house and as long as everything goes as planned I will be in at 15-year fixed 5.00%