15 yr mortgage &#8212; never pay closing costs.

May 4, 2021
5:44:57pm

lyrok Contributor

15 yr mortgage — never pay closing costs.

Unless the loan amount is under $150k a no cost wins every time. The break-even-point is almost always over 10 years and often over 15 years. Do the math and do the no cost.

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lyrok

Bio page: lyrok
Joined: Jun 30, 2011
Last login: Jun 9, 2021
Total posts: 730 (1 FO)

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Messages

Author

Time

Just a few thoughts as I close on my refinance loan.

JAGA97

5/4/21 4:44pm

All 3 of my older brothers bought in 2007 and all foreclosed on their

Chefcurry

5/4/21 4:50pm

We bought our first home 0% down in 2007 and it got pretty dark when I realized

camp_chef

5/4/21 5:17pm

Still very much possible to own a house.

CougCoug3

5/4/21 5:01pm

To make a dent you’ll need 20%. On $500,000 that’s $100,000.

stenso

5/4/21 5:50pm

$500k X 20% is $125k??😂😂

Cougarite

5/4/21 6:03pm

I’ll correct my math. Thanks.

stenso

5/4/21 6:08pm

Definitely sucks for those looking to buy their first house

wannnacruise

5/4/21 5:03pm

I grew up in California and would love to live there but I’m not willing to

cougsareforreal

5/4/21 5:08pm

This is the reason my wife and I move our family of 7 to Texas. Not cheap but

Cougphysio

5/4/21 5:40pm

Weird on the CC - even if you had a large balance couldn't you pay that off

braddahmike

5/4/21 5:09pm

This.

RockyBalboa

5/4/21 5:18pm

I agree. Told me I had to pay it and close the account. I told her I wasn't

JAGA97

5/4/21 5:22pm

2% rate on a 15 yr note? Who is offering that? I may do it.

cougar95

5/4/21 5:41pm

Locked it on April 16th with Blue Spot. I started at bankrate and had 3 lenders

JAGA97

5/4/21 6:02pm

Thanks

cougar95

5/5/21 6:33am

15 yr mortgage — never pay closing costs.

lyrok

5/4/21 5:44pm

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