Comments on: Will our adjustable rate mortgage save us big money? http://www.cleverdude.com/content/will-our-adjustable-rate-mortgage-save-us-big-money/ Family, Marriage, Finances & Life Wed, 17 Mar 2010 17:01:17 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: LAL http://www.cleverdude.com/content/will-our-adjustable-rate-mortgage-save-us-big-money/#comment-53276 LAL Sun, 20 Sep 2009 02:41:50 +0000 http://www.cleverdude.com/?p=2610#comment-53276 I'm 4 years into our 7/1 ARM. I've considered refinancing with historic lows, but I just can't justify it right now. Our rate is 4.25% with 3 years left. Plus, we're still above $416k conforming loan at $425k, down from $460k when we started. Thus if we wait it out, even if rates are higher in a couple years we could be under the jumbo rates, in which case rates drop. Plus with $2k closing costs, the rates have to be fantastic. I’m 4 years into our 7/1 ARM. I’ve considered refinancing with historic lows, but I just can’t justify it right now. Our rate is 4.25% with 3 years left. Plus, we’re still above $416k conforming loan at $425k, down from $460k when we started. Thus if we wait it out, even if rates are higher in a couple years we could be under the jumbo rates, in which case rates drop.

Plus with $2k closing costs, the rates have to be fantastic.

]]> By: Clever Dude http://www.cleverdude.com/content/will-our-adjustable-rate-mortgage-save-us-big-money/#comment-53091 Clever Dude Wed, 16 Sep 2009 00:38:38 +0000 http://www.cleverdude.com/?p=2610#comment-53091 @MJ, what I didn't mention here is that we have 2 mortgages (it was covered in the linked post, or a post linked to that post). We're paying down our second mortgage first since it's a higher rate. Now we'll be paying down principal on both. @MJ, what I didn’t mention here is that we have 2 mortgages (it was covered in the linked post, or a post linked to that post). We’re paying down our second mortgage first since it’s a higher rate. Now we’ll be paying down principal on both.

]]> By: My Journey http://www.cleverdude.com/content/will-our-adjustable-rate-mortgage-save-us-big-money/#comment-53090 My Journey Wed, 16 Sep 2009 00:24:10 +0000 http://www.cleverdude.com/?p=2610#comment-53090 Clever dude, I think I am confused? Are you not putting anything into principal? Clever dude,

I think I am confused? Are you not putting anything into principal?

]]> By: Mike http://www.cleverdude.com/content/will-our-adjustable-rate-mortgage-save-us-big-money/#comment-53022 Mike Mon, 14 Sep 2009 17:40:05 +0000 http://www.cleverdude.com/?p=2610#comment-53022 As you know, rates are at historic lows. Now is the time to get a fixed rate mortgage. The only direction for rates to go is up. As you know, rates are at historic lows. Now is the time to get a fixed rate mortgage. The only direction for rates to go is up.

]]>