UnThreaded | Threaded | Whole Thread (36) | Ignore Thread Prev | Next
Author: reallyalldone Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 128146  
Subject: Re: financing the next house Date: 2/7/2014 5:47 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Your 5/1 at 2.875% is where I would go(but I suspect you know that). You could mention to DH that in my recent past the only thing ARMs have done is go down - both the interest rate and the payment. I'm going with one for my new place as well - I'm believing the stats on how long people keep mortgages and in 30 years, I'll be pretty old and doubt I will be living in the same place.

On the pay off thing, again we've talked about it. I lean toward knowing I could pay it off at any time but I would be unlikely to with any rate not over 5%. It made me feel more nimble in particularly bad life times. Consider a segregated account that auto pays the mortgage ?

You are a bit of in the same position as me that I view as the puzzle with the missing piece where you put letters or numbers in order. Starting to move the pieces around to get where I want to be. Good luck on yours.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (36) | Ignore Thread Prev | Next


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Post of the Day:
Macro Economics

Looking at Oil and Gas
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.