Tales of a refinance, part 2….

[Anonymous]

flu, there are many variables to this decision. regardless you will save some money. my focus would be on managing cash flow now and in the future. if my payment is lower than my previous one, either pocket it for some other expense (pay down that new car loan) or pay down your mortgage.

good luck

[LesBaer45]

[quote=flu][quote=EconProf]Flu, you should get a 30-year loan, not 15. Who cares what the interest cost difference is? If inflation and prevailing interest rates in 5 or 10 years are in or near double-digits and you are sitting pretty in a 4% or so loan, you will make so much more money.[/quote]

The other thought is I just want to get done with this thing in 15 years, so I can retire or pseudo-retire earlier. It’s possible economy isn’t going to be doing as well moving forward. I’m getting older, and slowing down, etc, I’m probably at the height of my earning potential right now, and it will probably go into steady decline over the next decade.. If our dollar weakens by 10%, I doubt for instance, we’ll be see wages increase by 10% nor do I think Google/Android is going to be the hottest thing 10 years from now, and at that point do I really want to compete with some twenty year olds in going after projects on the side? I don’t know how well passive investments will be doing. 15 years is roughly where big bang happens for me. Kids about ready to go to college (I hope… and I hope I don’t have to pay anymore than what’s going to be available in her 529 account) , life insurance policies coverage my mortgage terminate (and no way I can renew or get another one with my pre-existing condition)….
Medical expenses are going to go up, especially if
)

Ah,,, screw it.. Too much to think…Too much phd analysis to paralysis, and I don’t even have one.
I guess I could just join the remaining 90% of the population that expects the government to take care of them 🙂

I’m probably overthinking about this way too late. [/quote]

Just pay it off and be done with it. 😉 All the calculations and scenarios don’t begin to compare with the peace of mind of having the damn thing paid for bring.

I paid mine off early this year after converting a 30 to a 15 back in 2003. I don’t miss the payments a bit. 🙂

Although, the payoff bit, the final payment day, it was a bit of a let down. No bright shining lights, no chorus in the background, no birds flying around chirping, no wild animals gently laying down together in the front yard. Bummer.

Hell our favorite restaurant was closed (!) for lunch and we couldn’t even get in the wild sex romp before the kids got home from school. |-(

[LesBaer45]

[quote=flu][quote=EconProf]Flu, you should get a 30-year loan, not 15. Who cares what the interest cost difference is? If inflation and prevailing interest rates in 5 or 10 years are in or near double-digits and you are sitting pretty in a 4% or so loan, you will make so much more money.[/quote]

The other thought is I just want to get done with this thing in 15 years, so I can retire or pseudo-retire earlier. It’s possible economy isn’t going to be doing as well moving forward. I’m getting older, and slowing down, etc, I’m probably at the height of my earning potential right now, and it will probably go into steady decline over the next decade.. If our dollar weakens by 10%, I doubt for instance, we’ll be see wages increase by 10% nor do I think Google/Android is going to be the hottest thing 10 years from now, and at that point do I really want to compete with some twenty year olds in going after projects on the side? I don’t know how well passive investments will be doing. 15 years is roughly where big bang happens for me. Kids about ready to go to college (I hope… and I hope I don’t have to pay anymore than what’s going to be available in her 529 account) , life insurance policies coverage my mortgage terminate (and no way I can renew or get another one with my pre-existing condition)….
Medical expenses are going to go up, especially if
)

Ah,,, screw it.. Too much to think…Too much phd analysis to paralysis, and I don’t even have one.
I guess I could just join the remaining 90% of the population that expects the government to take care of them 🙂

I’m probably overthinking about this way too late. [/quote]

Just pay it off and be done with it. 😉 All the calculations and scenarios don’t begin to compare with the peace of mind of having the damn thing paid for bring.

I paid mine off early this year after converting a 30 to a 15 back in 2003. I don’t miss the payments a bit. 🙂

Although, the payoff bit, the final payment day, it was a bit of a let down. No bright shining lights, no chorus in the background, no birds flying around chirping, no wild animals gently laying down together in the front yard. Bummer.

Hell our favorite restaurant was closed (!) for lunch and we couldn’t even get in the wild sex romp before the kids got home from school. |-(

[LesBaer45]

[quote=flu][quote=EconProf]Flu, you should get a 30-year loan, not 15. Who cares what the interest cost difference is? If inflation and prevailing interest rates in 5 or 10 years are in or near double-digits and you are sitting pretty in a 4% or so loan, you will make so much more money.[/quote]

The other thought is I just want to get done with this thing in 15 years, so I can retire or pseudo-retire earlier. It’s possible economy isn’t going to be doing as well moving forward. I’m getting older, and slowing down, etc, I’m probably at the height of my earning potential right now, and it will probably go into steady decline over the next decade.. If our dollar weakens by 10%, I doubt for instance, we’ll be see wages increase by 10% nor do I think Google/Android is going to be the hottest thing 10 years from now, and at that point do I really want to compete with some twenty year olds in going after projects on the side? I don’t know how well passive investments will be doing. 15 years is roughly where big bang happens for me. Kids about ready to go to college (I hope… and I hope I don’t have to pay anymore than what’s going to be available in her 529 account) , life insurance policies coverage my mortgage terminate (and no way I can renew or get another one with my pre-existing condition)….
Medical expenses are going to go up, especially if
)

Ah,,, screw it.. Too much to think…Too much phd analysis to paralysis, and I don’t even have one.
I guess I could just join the remaining 90% of the population that expects the government to take care of them 🙂

I’m probably overthinking about this way too late. [/quote]

Just pay it off and be done with it. 😉 All the calculations and scenarios don’t begin to compare with the peace of mind of having the damn thing paid for bring.

I paid mine off early this year after converting a 30 to a 15 back in 2003. I don’t miss the payments a bit. 🙂

Although, the payoff bit, the final payment day, it was a bit of a let down. No bright shining lights, no chorus in the background, no birds flying around chirping, no wild animals gently laying down together in the front yard. Bummer.

Hell our favorite restaurant was closed (!) for lunch and we couldn’t even get in the wild sex romp before the kids got home from school. |-(

[LesBaer45]

[quote=flu][quote=EconProf]Flu, you should get a 30-year loan, not 15. Who cares what the interest cost difference is? If inflation and prevailing interest rates in 5 or 10 years are in or near double-digits and you are sitting pretty in a 4% or so loan, you will make so much more money.[/quote]

The other thought is I just want to get done with this thing in 15 years, so I can retire or pseudo-retire earlier. It’s possible economy isn’t going to be doing as well moving forward. I’m getting older, and slowing down, etc, I’m probably at the height of my earning potential right now, and it will probably go into steady decline over the next decade.. If our dollar weakens by 10%, I doubt for instance, we’ll be see wages increase by 10% nor do I think Google/Android is going to be the hottest thing 10 years from now, and at that point do I really want to compete with some twenty year olds in going after projects on the side? I don’t know how well passive investments will be doing. 15 years is roughly where big bang happens for me. Kids about ready to go to college (I hope… and I hope I don’t have to pay anymore than what’s going to be available in her 529 account) , life insurance policies coverage my mortgage terminate (and no way I can renew or get another one with my pre-existing condition)….
Medical expenses are going to go up, especially if
)

Ah,,, screw it.. Too much to think…Too much phd analysis to paralysis, and I don’t even have one.
I guess I could just join the remaining 90% of the population that expects the government to take care of them 🙂

I’m probably overthinking about this way too late. [/quote]

Just pay it off and be done with it. 😉 All the calculations and scenarios don’t begin to compare with the peace of mind of having the damn thing paid for bring.

I paid mine off early this year after converting a 30 to a 15 back in 2003. I don’t miss the payments a bit. 🙂

Although, the payoff bit, the final payment day, it was a bit of a let down. No bright shining lights, no chorus in the background, no birds flying around chirping, no wild animals gently laying down together in the front yard. Bummer.

Hell our favorite restaurant was closed (!) for lunch and we couldn’t even get in the wild sex romp before the kids got home from school. |-(

[LesBaer45]

[quote=flu][quote=EconProf]Flu, you should get a 30-year loan, not 15. Who cares what the interest cost difference is? If inflation and prevailing interest rates in 5 or 10 years are in or near double-digits and you are sitting pretty in a 4% or so loan, you will make so much more money.[/quote]

The other thought is I just want to get done with this thing in 15 years, so I can retire or pseudo-retire earlier. It’s possible economy isn’t going to be doing as well moving forward. I’m getting older, and slowing down, etc, I’m probably at the height of my earning potential right now, and it will probably go into steady decline over the next decade.. If our dollar weakens by 10%, I doubt for instance, we’ll be see wages increase by 10% nor do I think Google/Android is going to be the hottest thing 10 years from now, and at that point do I really want to compete with some twenty year olds in going after projects on the side? I don’t know how well passive investments will be doing. 15 years is roughly where big bang happens for me. Kids about ready to go to college (I hope… and I hope I don’t have to pay anymore than what’s going to be available in her 529 account) , life insurance policies coverage my mortgage terminate (and no way I can renew or get another one with my pre-existing condition)….
Medical expenses are going to go up, especially if
)

Ah,,, screw it.. Too much to think…Too much phd analysis to paralysis, and I don’t even have one.
I guess I could just join the remaining 90% of the population that expects the government to take care of them 🙂

I’m probably overthinking about this way too late. [/quote]

Just pay it off and be done with it. 😉 All the calculations and scenarios don’t begin to compare with the peace of mind of having the damn thing paid for bring.

I paid mine off early this year after converting a 30 to a 15 back in 2003. I don’t miss the payments a bit. 🙂

Although, the payoff bit, the final payment day, it was a bit of a let down. No bright shining lights, no chorus in the background, no birds flying around chirping, no wild animals gently laying down together in the front yard. Bummer.

Hell our favorite restaurant was closed (!) for lunch and we couldn’t even get in the wild sex romp before the kids got home from school. |-(

[Coronita]

Well, the paperwork has started. I’ve gone through all the preapprovals/etc (again)…Now, I have 90 days to continue with the loan… Currently, I’m told I can lock in at 3.375% with a small cost…So, I’ll just wait if it hits 3.25%…

[Coronita]

Well, the paperwork has started. I’ve gone through all the preapprovals/etc (again)…Now, I have 90 days to continue with the loan… Currently, I’m told I can lock in at 3.375% with a small cost…So, I’ll just wait if it hits 3.25%…

[Coronita]

Well, the paperwork has started. I’ve gone through all the preapprovals/etc (again)…Now, I have 90 days to continue with the loan… Currently, I’m told I can lock in at 3.375% with a small cost…So, I’ll just wait if it hits 3.25%…

[Coronita]

Well, the paperwork has started. I’ve gone through all the preapprovals/etc (again)…Now, I have 90 days to continue with the loan… Currently, I’m told I can lock in at 3.375% with a small cost…So, I’ll just wait if it hits 3.25%…

[Coronita]

Well, the paperwork has started. I’ve gone through all the preapprovals/etc (again)…Now, I have 90 days to continue with the loan… Currently, I’m told I can lock in at 3.375% with a small cost…So, I’ll just wait if it hits 3.25%…

[Coronita]

Rates are now
3.250% /3.369%(apr) on the 15year

You folks thing it will go lower?
I will wait….

Lol…

30 Year Fixed Rate
Rate APR Points
4.000% 4.122% 0.000%
3.750% 4.016% 1.750%
15 Year Fixed Rate
Rate APR Points
3.250% 3.369% 0.000%
3.125% 3.427% 1.250%
3.000% 3.376% 1.750%

[Coronita]

Rates are now
3.250% /3.369%(apr) on the 15year

You folks thing it will go lower?
I will wait….

Lol…

30 Year Fixed Rate
Rate APR Points
4.000% 4.122% 0.000%
3.750% 4.016% 1.750%
15 Year Fixed Rate
Rate APR Points
3.250% 3.369% 0.000%
3.125% 3.427% 1.250%
3.000% 3.376% 1.750%

[Coronita]

Rates are now
3.250% /3.369%(apr) on the 15year

You folks thing it will go lower?
I will wait….

Lol…

30 Year Fixed Rate
Rate APR Points
4.000% 4.122% 0.000%
3.750% 4.016% 1.750%
15 Year Fixed Rate
Rate APR Points
3.250% 3.369% 0.000%
3.125% 3.427% 1.250%
3.000% 3.376% 1.750%

[Coronita]

Rates are now
3.250% /3.369%(apr) on the 15year

You folks thing it will go lower?
I will wait….

Lol…

30 Year Fixed Rate
Rate APR Points
4.000% 4.122% 0.000%
3.750% 4.016% 1.750%
15 Year Fixed Rate
Rate APR Points
3.250% 3.369% 0.000%
3.125% 3.427% 1.250%
3.000% 3.376% 1.750%

[Author]

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