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Today, 04:30 PM | #14086 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Fed is ALWAYS wrong.
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Posts: 51,416
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Today, 04:30 PM | #14087 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
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The **** would you go with a variable rate loan 4 years ago?
How low did they think it would get? |
Posts: 34,534
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Today, 04:31 PM | #14088 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
When I bought my house, I got a fixed rate that was over 7 percent. Rates kept going down and I kept refinancing. I think I was paying at or under 3 percent when I finally paid the house off. Maybe I should have done ARMs for 20 years. But I didn't know that we would have 20 years of declines. At some point I got a HELOC at some ridiculously low rate, and that's what I used for my last big rehab project on the house (redoing the kitchen, adding a deck, finishing off the third floor, etc.) I think it might have been under 2 percent, so I paid off the main mortgage before I paid that one off. At some point the lender stopped offering it, and that was a sad day. |
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Posts: 142,127
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Today, 04:34 PM | #14089 |
Fish are scared of me
Join Date: Nov 2001
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My LOC I use on my Rental properties is at 8.75% also. It has to renew every year so I get the bullet. They were going to put it at 10.5% this last renewal and I called the President of the bank and said LOOK. I've been with you since 1998, never been late on a payment, had over 30 mortgages , would you at least drop it to my current rate on my rentals at 8.75%, and he said he'd talk to loan committee. They called back an hour later and said that would work. WooHoo , excited about an 8.75% loan victory. LOL
And what's funny is that the loan officer that's been there 20 years said she had no idea they were even negotiable. Dumb bitch! |
Posts: 40,591
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Today, 04:36 PM | #14090 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
I had no idea rates were that high. |
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Posts: 142,127
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Today, 04:37 PM | #14091 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
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30 years were in the 3’s 4 years ago
If you took an ARM in 2020 then you deserve it |
Posts: 34,534
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Today, 04:38 PM | #14092 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
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Posts: 57,318
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Today, 04:40 PM | #14093 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Posts: 45,880
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Today, 04:49 PM | #14094 |
(Sir/Yes Sir/Aye Aye Sir)
Join Date: Oct 2009
Location: Diving
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Posts: 117,455
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