Samson
Póg Mo Thóin
- Thread starter
- #21
Samson I take it you've been in this house a few years making payments right? Why don't you look at fixed 15 or 20 year mortgages and start putting some more towards the principle. You can pay off your house early and have no house payment!Nope, I'm comparing clean closing cost, no points, 30 yr fixed mortgages. The bitch loan officer with my present company promised to remain competitive if rates dropped.The devil is in the details and points.
If you've already made 5-10 years payments then you re-fi for 30 years you are, in effect, putting yourself at the end of the line mortgage wise. No house payment beats the pants off of the interest deduction any day.
By the way I have an adjustable rate that adjusted itself down from 6.5 to 5.5 last December. Lowered my payment about 100 bucks.
I used to think the 15 year mortgage was the way to go, but it leaves you to inflexible.