refinanced from 5.99% to 3.25%

[Memo]

Yippy! I went from a 30 year 5.99% note to a 10 year 3.25% note and my payment only increased $200 bucks. Not bad.... I think. Lol...

I think it's gonna be harder to get a second home now though even though my credit score is 816. :-(

[347Mike]

816? How old are you?

[mustangguy289]

Damn barges.

[78X]

Bull fucking shit

[Memo]

816? How old are you?

29

Bull fucking shit

Actually I'm serious. I was looking at buying a second home and renting this one but it was tough to qualify for a nice one with what would be two mortgages... so I decided to refinance this one for now and go from there....

[TX_92_Notch]

29

Actually I'm serious. I was looking at buying a second home and renting this one but it was tough to qualify for a nice one with what would be two mortgages... so I decided to refinance this one for now and go from there....

I dared post my credit score one time and everyone told me it was BS and that, even it it was that high, it was somehow irrelevant for whatever reason. If their score was above 815 (hell, above 700 for that matter), they'd probably think it mattered. LOL

And I did a re-fi recently - went from a 30-yr at 5.875 to a 15-yr 3.625 and dropped my payment around $100 per month. Had a good chunk of equity so that helped (financing a lot less than the first time).

[slow99]

Bull fucking shit

Word, Mexicans don't have credit scores. Mexicans also don't have Masters degrees, this guy is really fucking with me.

[Memo]

Word, Mexicans don't have credit scores. Mexicans also don't have Masters degrees, this guy is really fucking with me.

I got them both at the "Pulga". I also got my "papeles" there....

[Memo]

I dared post my credit score one time and everyone told me it was BS and that, even it it was that high, it was somehow irrelevant for whatever reason. If their score was above 815 (hell, above 700 for that matter), they'd probably think it mattered. LOL

And I did a re-fi recently - went from a 30-yr at 5.875 to a 15-yr 3.625 and dropped my payment around $100 per month. Had a good chunk of equity so that helped (financing a lot less than the first time).

Yeah, they told me it would be 3.5% for 15 yrs. I asked out of curiousity what it would be for 10yrs and I got 1/4 percent lower so I took that.

[Forever_frost]

I went from 8 to 5 2 years ago and am going from 5 to 3.75% on a 30 year note and my payment is dropping 100 ish dollars. Nice score. I'm only at a 765

[AdamLX]

Preface, I've been embibing.

10 year term payment at 3.25% amortizes almost exactly the same as a 15 year at 3.5% at the same 10 year payment.

[Forever_frost]

Preface, I've been embibing.

10 year term payment at 3.25% amortizes almost exactly the same as a 15 year at 3.5% at the same 10 year payment.

Okay, I'm brain damaged so...what did you just say in English?

[hunt4m3x]

Pics or it didn't happen.

[AdamLX]

Okay, I'm brain damaged so...what did you just say in English?

False numbers, but you'll get the idea...

15 year term at 3.5%. $1000 payment.
10 year term at 3.25%. $1200 payment.

If you took the 15 year and paid $1200 per month it would payoff in almost exactly 10 years. All you did is commit to a higher payment.

[slow99]

Okay, I'm brain damaged so...what did you just say in English?

He's trying to get fancy and fucking up "imbibing".