Home Brew Forums > Home Brewing Community > General Chit Chat > Time to refinance!
Reply
 
LinkBack Thread Tools
Old 12-18-2008, 10:09 PM   #1
menschmaschine
Feedback Score: 0 reviews
Recipes 
 
Join Date: Jun 2007
Location: Delaware
Posts: 3,278
Liked 34 Times on 28 Posts

Default 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!?

__________________

END TRANSMISSION

menschmaschine is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 10:13 PM   #2
GilaMinumBeer
In yo' garage, steelin' yo parts.
HBT_LIFETIMESUPPORTER.png
Feedback Score: 0 reviews
 
GilaMinumBeer's Avatar
Recipes 
 
Join Date: Jan 2008
Location: Oblivion
Posts: 49,387
Liked 5086 Times on 4605 Posts
Likes Given: 60

Default

Quote:
Originally Posted by menschmaschine View Post
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!?
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.
__________________
GilaMinumBeer is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 10:20 PM   #3
DesertBrew
You're not my type
HBT_LIFETIMESUPPORTER.png
Feedback Score: 0 reviews
 
DesertBrew's Avatar
Recipes 
 
Join Date: Jan 2005
Location: Twin Cities, MN
Posts: 5,572
Liked 88 Times on 82 Posts
Likes Given: 195

Default

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

__________________
DesertBrew is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 10:22 PM   #4
menschmaschine
Feedback Score: 0 reviews
Recipes 
 
Join Date: Jun 2007
Location: Delaware
Posts: 3,278
Liked 34 Times on 28 Posts

Default

Quote:
Originally Posted by DesertBrew View Post
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.
__________________

END TRANSMISSION

menschmaschine is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 10:24 PM   #5
pen25
Feedback Score: 0 reviews
Recipes 
 
Join Date: Jun 2008
Location: tulsa, ok
Posts: 976
Liked 2 Times on 2 Posts
Likes Given: 6

Default

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

__________________

from or living in oklahoma? come join us in the oklahoma group

pen25 is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 10:24 PM   #6
GilaMinumBeer
In yo' garage, steelin' yo parts.
HBT_LIFETIMESUPPORTER.png
Feedback Score: 0 reviews
 
GilaMinumBeer's Avatar
Recipes 
 
Join Date: Jan 2008
Location: Oblivion
Posts: 49,387
Liked 5086 Times on 4605 Posts
Likes Given: 60

Default

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.

__________________
GilaMinumBeer is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 10:25 PM   #7
Blue_Water
is good
HBT_LIFETIMESUPPORTER.png
Feedback Score: 0 reviews
Recipes 
 
Join Date: May 2008
Location: Austin
Posts: 79
Default

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.

__________________
Blue_Water is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 11:36 PM   #8
david_42
Feedback Score: 0 reviews
 
david_42's Avatar
Recipes 
 
Join Date: Oct 2005
Location: Willamina & Oak Grove, Oregon, USA
Posts: 25,666
Liked 139 Times on 132 Posts

Default

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

__________________

Remember one unassailable statistic, as explained by the late, great George Carlin: "Just think of how stupid the average person is, and then realize half of them are even stupider!"

"I would like to die on Mars, just not on impact." Elon Musk

david_42 is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 11:45 PM   #9
DesertBrew
You're not my type
HBT_LIFETIMESUPPORTER.png
Feedback Score: 0 reviews
 
DesertBrew's Avatar
Recipes 
 
Join Date: Jan 2005
Location: Twin Cities, MN
Posts: 5,572
Liked 88 Times on 82 Posts
Likes Given: 195

Default

Quote:
Originally Posted by pen25 View Post
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 View Post
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.
__________________
DesertBrew is offline
 
Reply With Quote Quick reply to this message
Old 12-18-2008, 11:50 PM   #10
DeathBrewer
Maniacally Malty
HBT_LIFETIMESUPPORTER.png
Feedback Score: 0 reviews
 
DeathBrewer's Avatar
Recipes 
 
Join Date: Apr 2007
Location: Oakland, CA
Posts: 21,903
Liked 217 Times on 120 Posts

Default

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!!

__________________
Easy Partial Mash Brewing - Stovetop All-Grain Brewing

"Death is always with us." - Brewpastor

Quote:
DIAICYLF
We will remember...
DeathBrewer is offline
 
Reply With Quote Quick reply to this message
Reply



Quick Reply
Message:
Options
Thread Tools


Similar Threads
Thread Thread Starter Forum Replies Last Post
first time near beer, this time rocket fuel GranillaNutz Beginners Beer Brewing Forum 5 04-20-2009 01:22 PM
first time here but a long time making wine tinkerbell Introductions 4 03-19-2009 01:26 PM
Recipe advice for long time lurker, first time brewer... aristocrat Beginners Beer Brewing Forum 11 03-08-2009 05:35 AM
Long time listener, first time brewer... from orange county, CA MacBruver Introductions 9 02-22-2009 08:06 AM
1st time kegger, long time drinker (oh and 1st time poster as well) believeinsteve Bottling/Kegging 5 06-29-2007 04:54 AM



Newest Threads

LATEST SPONSOR DEALS