[quote=moneymaker]Wow 2.5% mortgage, I’m envious. That’s probably lower than the average car loan out there. Still ok with my 3.5%, but way to go flu.[/quote]
It’s a 15year not 30. Yours is probably a 30yr Your monthly payments are probably much lower than what they would be at 15 year, so there’s a benefit there in that if you’re trying to qualify for more loans, it’s probably not going to impact you as much as it did for me with a 15 year.
The best 30 year loan that I found at the time was around 3% for no fee/no cost, and it was just momentarily.
You 3.5% is still pretty good. My rentals that did qualify for a 30 year cash out refi loan are around 4.25% (I took a hit for (1) rental property (2) condo and (3) loan too small. And I had to pay an $850 out of pocket cost each.
For the one that didn’t qualify for a loan, I pulled my HELOC, which is at prime-minus .25% or 3%
More importantly, it’s capped at 6%. Worst case scenario, at 6%, I would have a $0 cashflow on those. But hopefully, that will be paid off soon. I’ve been pulling money out of the stock market to pay off the helo, to prevent me from putting more money back into the markets. And I have RSU’s and ESPP shares that I sort of want to sell this year and not put back into the stock market too.
Time to bring in some of the market speculation. I hate having debt. Good or bad.
