refinanced mortgage

[kristen]

we bought our home 3 years ago....and we just refinanced our mortgage last night. so happy our payments went from 2224 a month to 1920!!!! totally kick ***. since the hubby is getting a new job which is ALOT more money he's talking about wanting a m3 lol. and no he's not getting one yet, we're putting in a pool in the spring, gotta finish our basment, and i'm gonna stop working with in the next year or 2 (next child) after all that is done...we'll see about the m3 :) i think a nice m3 will be a great addition to our cars....01 camaro, 99 mustang gt, 06 cobalt ss/sc, and the 09 mali-booty.

[firebirddrvr]

Re: refinanced mortgage

thats a pretty ridiculous house payment...jus sayin

[Bandit127]

Re: refinanced mortgage

yea i'd **** a brick if that was swinging my way, but then again i don't have a family and am currently interested 0% in settling down anytime soon.

[gatormike69]

Re: refinanced mortgage

Congrats on the Re-Fi. Thinking of doing the same just to kick the payments down some.

[kristen]

Re: refinanced mortgage

hate to tell yah, but when you buy a big house...you have a big payment lol.

Inside that payment is our taxes also...so we don't have to worry about that at the end of the year :)

[firebirddrvr]

Re: refinanced mortgage

right my wife and i have a 4 bedroom 2 bath with an unfinished basement and our principal interest taxes and insurance altogether is under 700 a month with a decent amount of property .... somewhere between 1/2 and 3/4 of an acre. i guess it all goes back to the old real estate slogan "location location location". i suppose it all equals out somehow too when wages around here are crap and the st louis area is the number 1 hardest place to find a job according to some report one of my coworkers read

[Bird_Of_Prey]

Re: refinanced mortgage

Who did you go through? What were the closing costs? How long is it going to take you to recoup those? $304 a month is nice, but if you spent more than $6k on the closing, it will take years to see any real benefit. I'll throw it out there, if anyone ever has a question, I've been in the mortgage industry for the past 13 years. I'm not in sales, but I can help you figure out what is your best options.

[Bird_Of_Prey]

Re: refinanced mortgage

Oh, and my payment is $2728 PITI on a $384k 30yr fixed @ 4.375 and I got 1 point back at close ;)

[firebirddrvr]

Re: refinanced mortgage

thats nuts...im pretty sure i could find a much better way to spend that amount of change....like buy a da$n nice house for 224k and invest the other 160k.

[dmw319]

Re: refinanced mortgage

I pay $652 a month, 2 year ARM for 15 years..although I won't be there more than 1-2 years more at max.

[Mogobs30th]

Re: refinanced mortgage

I pay $652 a month, 2 year ARM for 15 years..although I won't be there more than 1-2 years more at max.

You also live in BFE, North Carolina. I could buy half the state with my yearly pay. Philly, Chicago, NYC, LA, Seattle, cities like these are expensive in general, as well as their metro area suburbs. But to be honest, its not THAT big of a house. Unless that thing has 6+ bedrooms, I wouldn't have paid that much...ever. I can find houses in Chicago that are cheaper than that, in REAL good area's too.

[Mogobs30th]

Re: refinanced mortgage

and i'm gonna stop working with in the next year or 2 (next child) after all that is done

Why is what I want to know? I would never allow my GF to completely quit working, ever. If she even spoke of it, Id be out the door.:tup: We both have a few plans in the works, real estate purchases in Indianapolis to begin with, possibly a small business for residual income. So many things can be done when you both work, instead of buying stuff.....make money while you can, for as LONG as you can.

[Bird_Of_Prey]

Re: refinanced mortgage

thats nuts...im pretty sure i could find a much better way to spend that amount of change....like buy a da$n nice house for 224k and invest the other 160k.

The flaw in your logic is that the other $160k doesn't exist, it's borrowed. Also, I bought a 3 unit apartment building which is nearly paying for itself. As of Dec 1, it will only be costing me $328 per month out of pocket. I could not rent/buy an apartment/condo cheaper. See, real estate can still be used as an investment vehicle.

[Mogobs30th]

Re: refinanced mortgage

The flaw in your logic is that the other $160k doesn't exist, it's borrowed. Also, I bought a 3 unit apartment building which is nearly paying for itself. As of Dec 1, it will only be costing me $328 per month out of pocket. I could not rent/buy an apartment/condo cheaper. See, real estate can still be used as an investment vehicle.

When the cracks getting fixed anyway?

[Everglades W68]

Re: refinanced mortgage

Does that payment also include insurance?