Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: ichabod1
#1 has to have been there a while for the principal to be as high as it is!

10 effin' years!

537 posted on 08/12/2019 2:01:16 PM PDT by numberonepal (WWG1WGA)
[ Post Reply | Private Reply | To 527 | View Replies ]


To: numberonepal

In 2009 interest rates were ~ 5% for thirty year mortgages.
http://mortgage-x.com/general/national_monthly_average.asp?y=2009

Current 15 year is just above 3%. If you could refi your remaining 20 year loan to a 15, it might work for you to make quicker progress with roughly equal payments. http://mortgage-x.com/general/average_rates.asp

Has your house appreciated so you have more value, compared to your outstanding debt? You have made money by appreciation which offset your interest loss. Appreciation has been good in many markets; not all. If you have a higher value you can get lower rates. Lots of lenders out there but, Quicken loans can be pretty fast and I’ve found them to be reasonably honest. Start with an appraisal of your property.


610 posted on 08/12/2019 3:53:59 PM PDT by outofsalt (If history teaches us anything, it's that history rarely teaches anything.)
[ Post Reply | Private Reply | To 537 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson