Great, I just went and got myself in serious debt.

[SSSnail]

Hundreds and hundreds of thousands of dollars...

We'll see how this shakes out in 30 years...

 

[microAmp]

Hope that was the best hooker and steak ever.

 

[JulesMaximus]

Sucker!

 

[Drako]

Should have done a 15 year.

 

[Exophase]

At least it's not hundreds of hundreds of thousands of dollars.

 

[drinkmorejava]

Don't worry. It's guaranteed to appreciate. At least that's what I told myself...has worked out so far.

 

[core2slow]

now you're a slave to the 'system'!

 

[gorcorps]

Mine wasn't that expensive, but it still hurts when you see that final number including interest... Right in the wallet =/

 

[rcpratt]

Congrats. Pics?

 

[Shawn]

Should have done a 15 year.

This. Just refinanced my 30 year (with 25 left) into a 15 year and only paying $50 more a month. Of course I also went from FHA to conventional now that I had 20% equity.

 

[SSSnail]

This. Just refinanced my 30 year (with 25 left) into a 15 year and only paying $50 more a month. Of course I also went from FHA to conventional now that I had 20% equity.

15 years would put my PITI payment at ~49% more per month. Gotta have some money left over for the hookers and steak. At least my rates aren't bad, at 3.25%.

Congrats. Pics?

Later.

 

[zerocool84]

Hope that was the best hooker and blow ever.

FTFY

 

[Newbian]

If you really want to get screwed get married and have it taken from you. 😉

 

[TwiceOver]

15 years would put my PITI payment at ~49% more per month. Gotta have some money left over for the hookers and steak. At least my rates aren't bad, at 3.25%.

Later.

Why such a high rate?

 

[SSSnail]

Why such a high rate?

I don't know, my loan officer told me that's the best she could do for 30 years fixed. That bitch!

What do you think it should be?

 

[edro]

Damn, how many points did you pay?
I just got 3.5% paying .33 points. (20%+ equity, 800+ credit)
I locked in about 45 days ago, which was an absolute low point.

 

[Imp]

San Franciso or LA?

 

[Carson Dyle]

Congrats. Pretty soon you just might find yourself upside down with joy.

 

[Sonikku]

Grats slave!

 

[SSSnail]

Damn, how many points did you pay?
I just got 3.5% paying .33 points. (20%+ equity, 800+ credit)
I locked in about 45 days ago, which was an absolute low point.

No points. The original quote to me was 3.25%, then two days later the rates went up to 3.62%. I told the loan lady if she'd honor 3.25%, I'd lock. She did, so I did. They wanted to charge .5 points, I laughed.

San Franciso or LA?

The overpass option. 😉

I know I know, I'm a slave to the system. But, the way I look at it, I'm a slave to the system in one form or another, might as well give my son a chance 😉.

Congrats. Pretty soon you just might find yourself upside down with joy.

Yeah, I looked at that possibility as well (and I'm actually predicting the market to deflate a bit after the election), but I'm not a flipper so I couldn't care less.

 

[kaerflog]

Holla.....

 

[RossMAN]

Are you going to pay extra towards principal or at least biweekly payments?

 

[TastesLikeChicken]

Congrats. The first one is scary but awesome and you feel a major sense of accomplishment.

The second one is "OK, cool. I've done this before."

By number 3 you're like "Fuck, this process is a major pita!"

 

[SSSnail]

Are you going to pay extra towards principal or at least biweekly payments?

That depends on whether I can get better than 3.25% ROI elsewhere.

 

[radhak]

15 years would put my PITI payment at ~49% more per month. Gotta have some money left over for the hookers and steak. At least my rates aren't bad, at 3.25%.

Later.

Yes - while 15 years is so much better than 30, a 50% added payment per month is not negligible. Instead, you could always add an additional, tack-on payment each month to reduce your total amount due faster.

3.25% is a very good rate.