BLACK6PACK
1 sec reaction King
- Joined
- May 24, 2001
- Messages
- 4,849
I locked in at 5.65% 5 years ago. My bank tried to get me to do the 2 weeks thing, but I have autopay with an extra $300 coming out every month. Like John Larkin, it only cost me about an extra $100 a month to go from a 30 year to a 15 year. So, after 5 years, I refinanced for 15 years. I'm now about 1/3 of the way through the 15 years and have payed down over half. The amount that goes to principal is way over what is going to interest right now, so I'd get screwed if I refinanced again. I'll pay off this 15 year loan in about 9 years and save close to $75k just by paying an extra $300 a month. Now my 2nd house I bought off the parental units @ 15 years, I'm making normal payments on. I figure the interest I'm paying them will end up back in my pocket in the long run. 
