Quote:
Originally Posted by dmk08
Quote:
Originally Posted by Gray_Panther
Refinanced some months ago. 2.45% fixed for 15 year.
Coming down from a 4.875% fixed rate for 30 years.
Funny thing is my monthly payment only went up by $48. My interest used to be 2/3 of the payment and now it is below one third!
Crazy times!
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Yep same here. Payment went up less than $100 going from a 30 to a 15 and I was only 5 years in. It was such a no brainer. |
Definitely worth it if you are early on in the indentured servitude game. I am starting my third year into this death pledge.
Even though I throw extra onto principal as much as possible, I see myself in this for for several years or less. Cutting down the rate has helped us immensely. I feel like a small burden was lifted off, can't imagine what it is like to not have a mortgage anymore.