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-   -   Time to refinance! (http://www.homebrewtalk.com/f19/time-refinance-93672/)

menschmaschine 12-18-2008 09:09 PM

Time to refinance!
 
Just got a 4.875 rate on a 30-year fixed from Wells Fargo, locked in. I'm 3 years into a 10/1 ARM at a 5.875 rate and figured it's now or never. Who's with me!?:ban:

GilaMinumBeer 12-18-2008 09:13 PM

Quote:

Originally Posted by menschmaschine (Post 1017084)
Just got a 4.875 rate on a 30-year fixed from Wells Fargo, locked in. I'm 3 years into a 10/1 ARM at a 5.875 rate and figured it's now or never. Who's with me!?:ban:

Doing the same here.

Consolidating our 1st and 2nd mortgages into a 3.5% (with points paid) rate that'll cut 15 years off our total payment if we plan right.

DesertBrew 12-18-2008 09:20 PM

Guess I haven't been paying attention. I'm at a 30yr fixed @ 5.875 currently. Wonder what a 15 might look like.

menschmaschine 12-18-2008 09:22 PM

Quote:

Originally Posted by DesertBrew (Post 1017106)
Guess I haven't been paying attention. I'm at a 30yr fixed @ 5.875 currently. Wonder what a 15 might look like.

Wells Fargo told me today that 15 and 20 year rates are actually higher than 30 year rates right now.

pen25 12-18-2008 09:24 PM

nothing wrong with signing the 30 year at the better rate and paying like you would for a 15 or 20.

GilaMinumBeer 12-18-2008 09:24 PM

Our will be a 30 year but, our credit is immaculate and we have some savings cash for points to drive the rate waay down. We can just afford to pay it off in 15 rather than 30 if the deal goes through as prepared.

Blue_Water 12-18-2008 09:25 PM

Yes, I'm looking at 4.625 or 4.75 for 30 yr. 15 yr rates are not better at this time it seems..... plus with the economy, better to have that smaller payment now in case the layoff boogieman comes to town.

david_42 12-18-2008 10:36 PM

Hard to refinance a $0.00 balance. Having a paid-off house is a very good feeling right now.

DesertBrew 12-18-2008 10:45 PM

Quote:

Originally Posted by pen25 (Post 1017116)
nothing wrong with signing the 30 year at the better rate and paying like you would for a 15 or 20.

Very true.

Quote:

Originally Posted by david_42 (Post 1017286)
Hard to refinance a $0.00 balance. Having a paid-off house is a very good feeling right now.

Damn you Dave! ;). Heck, I'm not done until 2032 with my current loan. Time to work the numbers I guess.

DeathBrewer 12-18-2008 10:50 PM

own a house in oakland? ha! i can't afford a paper box around here. at least i still have rent control working to my advantage...i just cannot ever move! ahh!!


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