You should check mortgage rates if you haven’t recently

Discussion in 'The Okie Corral' started by catman71, Jul 30, 2020.

  1. catman71

    catman71 Spewer of TROOF

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    They are low!

    I’ve seen 30 year mortgages under 3%
     
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  2. BL33D 4 M3

    BL33D 4 M3

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    Just did a cash out re fi and lowered my monthly payment. MAGA!
     

  3. Foxterriermom

    Foxterriermom No place like home

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    I looked into refinancing but was told my mortgage balance wasn't worth what it would cost. I'm throwing extra principal payments in every month to get it paid off quicker.
     
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  4. The Father

    The Father

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    Just looked at rates, huh if I had a mortgage I guess I would give a ****.
     
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  5. SleeperSS

    SleeperSS

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    No mortgage...who cares about the rate..
     
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  6. catman71

    catman71 Spewer of TROOF

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    If your balance is low you can pay it off with no fees with a HELOC
     
  7. rj1939

    rj1939

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    What is this mortgage you speak of?
     
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  8. TeaDub

    TeaDub

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    About a year and a half ago, I "ignored" the topic of this thread...

    :cheers:
     
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  9. Sprinkler Fitter

    Sprinkler Fitter

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    Why even respond then?
     
  10. Captain Steinbrenner

    Captain Steinbrenner

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    We just lowered ours to 2.7 from 4.


    Sent from my iPhone using Tapatalk
     
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  11. NewYorker

    NewYorker

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    In the process of buying a house. Rates are good to go!
     
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  12. Glockalong

    Glockalong

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    To virtue signal :)
     
  13. Tackle

    Tackle

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    Anywhere with decent closing costs for refi? A 1% drop is nice but not for 4k out of pocket. Would take 3+ years to recoup.
     
  14. DaveD

    DaveD Ex-Mod Moderator Millennium Member

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    We have a mortgage on one of our homes. We just got 2.75% on a fixed 15-year. Two years ago we were at 4.125%. Our bank offers a program for those that also do commercial business.

    You can get what ever the current rate is by paying a half a point of the existing mortgage amount. No closing cost, one signature, on one document. So lets say you have a $500,000 mortgage, you pay $2500 and the new rate goes into effect in 60-days.

    This month and next they are even waiving the fee.
     
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  15. DaveD

    DaveD Ex-Mod Moderator Millennium Member

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    Totally dependent on how many years left. 9,15,28? Calculating the monthly savings as well as the interest saved can be substantial. Is $4K saving $30K over the entire loan?

    A $250K 30-year loan at 4% pays $1200 a month and $179K in interest

    A $250K 30-year loan at 3% pays $1050 a month and $129K in interest

    Savings = $150K
     
  16. dbak

    dbak

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    15 or 30 year?
     
  17. Captain Steinbrenner

    Captain Steinbrenner

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    30 years


    Sent from my iPhone using Tapatalk
     
  18. ray9898

    ray9898

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    I think you know why......it is the internet version of 'hey look at me guys....I'm cool'.
     
  19. ray9898

    ray9898

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    That is only one portion of the calculation to determine if it is financially beneficial.
     
  20. G26-Has-my-6

    G26-Has-my-6

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    What? You guys actually PAY back what you borrow? I thought with all of this lawlessness and riots that pretty much anything goes now.
     
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