You will lose some flexibility. Option to pay extra amounts some months is nice.

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Apr 14, 2021
10:06:29am

grandpacoug Truly Addicted User

You will lose some flexibility. Option to pay extra amounts some months is nice.

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grandpacoug

Previous username: venomous viper
Bio page: grandpacoug
Joined: Sep 6, 2002
Last login: Apr 22, 2024
Total posts: 6,912 (25 FO)

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Messages

Author

Time

Refinance question.

brazilcoug

4/14/21 7:39am

You don’t have to refi to pay your house off faster

TwinsRight

4/14/21 7:45am

The nice thing about not refinancing is that it gives you flexibility.

byujacob

4/14/21 7:46am

If you were as successful as me

CocaColaRecovery

4/14/21 7:47am

Invest the $$$

Plato

4/14/21 7:48am

paying off you home is an investment

MormonThug

4/14/21 8:53am

If you enjoy a near negative return on your money.

Plato

4/14/21 8:57am

math is on your side if you're disciplined. Almost nobody is.

MormonThug

4/14/21 9:06am

What everyone discounts in these scenarios is risk. Also, paying extra on his

PCCoug

4/14/21 12:54pm

If your interest rate is low, you can look at an amortization table (I use the

DwigtA2RM

4/14/21 7:52am

It depends on your interest rate

PCCoug

4/14/21 7:59am

Interest rate would go from like 3% to 2.2%. If I just kept the 30-year but paid

brazilcoug

4/14/21 8:08am

There are a lot of re fiannce comparing sites out there. You plug in the numbers

kotacoug

4/14/21 8:10am

Kotacoug. Did the book arrive? I would just make additional principal payments.

grandpacoug

4/14/21 8:18am

Not yet. I’ll check today 👍🏻

kotacoug

4/14/21 8:43am

RE: Interest rate wild go from like 3% to 2.2%. If I just kept the 30-year but paid

BYUtiful

4/14/21 8:11am

<< Deleted >>

cvd6262

4/14/21 8:11am

It was more common to do what you're thinking years ago. It's less common now and the main reason is that today

HarlemCoug

4/14/21 8:22am

A great, well thought out post in my humble opinion!! 100% agree.

grandpacoug

4/14/21 8:25am

I'm getting ready to pull the trigger on a 15 year mortgage. Rate difference is

LaserCoug

4/14/21 8:29am

I just did the same. So many people fool themselves into thinking they'll save

MormonThug

4/14/21 8:59am

What is your goal?

CBaass

4/14/21 9:57am

It makes sense if you really want to pay it off in 15 eyars and you can do it cheaper on a 15 year note than just paying

molodyets

4/14/21 10:00am

You will lose some flexibility. Option to pay extra amounts some months is nice.

grandpacoug

4/14/21 10:06am

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