Money Matters
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

Thank you - Mortgage Rate Follow-up

Thanks to the recent discussion on mortgage rates, I happened to lookup the current rates our bank was offering compared to what we were currently paying.  probably wouldn't have done it based on the interest rate alone, but we'll be going from 4.125% on a 20yr to 3.5% on a 15yr with almost the same payment.  Based off the normal repayment schedule, it should save us something around $40k, but we've been making additional payments and will continue to do so,

Closing is next Wednesday. :)
Daisypath Anniversary tickers

Re: Thank you - Mortgage Rate Follow-up

  • Nice job! We recently refinanced as well and it's exciting to see a large cost savings!
    Lilypie Pregnancy tickers
  • Thats pretty awesome!
    image
  • Love it! We did it - went from a 30 year to a 15 for less than $100 more a month. Congrats!!
    HeartlandHustle | Personal Finance and Betterment Blog  
  • als1982 said:
    Love it! We did it - went from a 30 year to a 15 for less than $100 more a month. Congrats!!
    It's crazy how little of a difference it can make.  Especially right now with the mortgage rates as low as they are.  We did the same thing a couple years ago, and our payment only increased $75 a month.  I still don't know why we got a 30 year in the first place.  Especially with that little of a difference.

    OP That's a good rate, and great savings over the life of the loan.

    TTC since 1/13  DX:PCOS 5/13 (long, anovulatory cycles)
    Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
    1/14 PCOS / Gluten Free Diet to hopefully regulate my system. 
    Chemical Pregnancy 03/14
    Surprise BFP 6/14, Beta #1: 126 Beta #2: 340  Stick baby, stick! EDD 2/17/15
    Riley Elaine born 2/16/15

    TTC 2.0   6/15 
    Chemical Pregnancy 9/15 
    Chemical Pregnancy 6/16
    BFP 9/16  EDD 6/3/17
    Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
    www.5yearstonever.blogspot.com 
                        Image and video hosting by TinyPic

  • Woohoo, congrats!!! 
  • brij2006 said:
    It's crazy how little of a difference it can make.  Especially right now with the mortgage rates as low as they are.  We did the same thing a couple years ago, and our payment only increased $75 a month.  I still don't know why we got a 30 year in the first place.  Especially with that little of a difference.

    OP That's a good rate, and great savings over the life of the loan.
    We started with a 20yr because the difference in the payments was enough that we wanted some breathing room just in case things came up.  It would have been about a $250-300 difference if I remember right at the time.  Now it's only about a $50-100 difference.
    Daisypath Anniversary tickers
Sign In or Register to comment.
Choose Another Board
Search Boards