Have you bought your own house yet?

[QUOTE="FragStains"]Well, I'd just about kill a person for 3.9%.Atmanix

I'm at %6.25... I can't even imagine %3.9 without crying a little.

[QUOTE="FragStains"]Well, I'd just about kill a person for 3.9%.comp_atkins

▲ No, but I don't really want a house. I hate yard work and neighbors. ▲

▲ No, but I don't really want a house. I hate yard work and neighbors. ▲

Loco_Live

I live in a townhouse. People do my yardwork for me and I rarely see or hear my neighbors.

Well, I'd just about kill a person for 3.9%.FragStains

[QUOTE="_7h0m_"][QUOTE="comp_atkins"] i'm at 6.625 on my fixed.. yeah. < 4 would be fantastic.

p2250

[QUOTE="Atmanix"]

[QUOTE="FragStains"]Well, I'd just about kill a person for 3.9%.FragStains

I'm at %6.25... I can't even imagine %3.9 without crying a little.

If you can afford it it would be wise to make an additional mortgage payment a year. It will go towards the principal, and will knock off a few years of a 30 year loan. That's what I've been doing since my first year of home ownership.

[QUOTE="p2250"][QUOTE="_7h0m_"] mine is 3.89% fixed (25 years) on topic, i got myself a condo, last floor... nice view of Montreal._7h0m_

If you can afford it it would be wise to make an additional mortgage payment a year. It will go towards the principle, and will knock off a few years of a 30 year loan. That's what I've been doing since my first year of home ownership.

zmbi_gmr

We've had our current house for 6 years. Excellent location (walking distance to shopping and schools, yet a quiet area). We did an addition on the house to add 3 rooms and a bathroom. The value of the house has doubled since we bought it, and we always pay more monthly than required to chip away at the principal.

Having said that, I'm getting the urge to move. I'm getting tired of the house. Doing the addition was stressful to the point that I don't want to do anymore work on the place, not that it needs much. Next time I'll go for a place that already suits my needs rather than renovating.

yes. first house in the late 1990's, built 2nd house in 2005.

[QUOTE="zmbi_gmr"]

If you can afford it it would be wise to make an additional mortgage payment a year. It will go towards the principle, and will knock off a few years of a 30 year loan. That's what I've been doing since my first year of home ownership.

Jandurin

I invest in a retirement fund (401k), but my logic is to get your amount owed on your house down to the 20% (which I just did recently) to be able to knock off the PMI. Also, if I can rid myselfof mortgage payments a few years beforethe full 30 year loanthen that's money in my pocket as soon as the house is payed off. My house wasn't that expensive so a mortgage payment extra a year may be far less expensive than what yours may cost. There is no right or wrong way imo I'm just throwing some ideas out there.

[QUOTE="Jandurin"][QUOTE="zmbi_gmr"]

If you can afford it it would be wise to make an additional mortgage payment a year. It will go towards the principle, and will knock off a few years of a 30 year loan. That's what I've been doing since my first year of home ownership.

I invest in a retirement fund (401k), but my logic is to get your amount owed on your house down to the 20% (which I just did recently) to be able to knock off the PMI. Also, if I can rid myselfof mortgage payments a few years beforethe full 30 year loanthen that's money in my pocket as soon as the house is payed off. My house wasn't that expensive so a mortgage payment extra a year may be far less expensive than what yours may cost. There is no right or wrong way imo I'm just throwing some ideas out there.

[QUOTE="zmbi_gmr"]

[QUOTE="Jandurin"] knocking off the tail end is nice and all, but i was under the impression that as your payments stay the same throughout the 30 years and money generally gets worth less over time and pay from jobs generally increase that it made more sense to use money NOW for investing or whatever. Not that I ever invest :S We've been paying about 5k or so extra a year because we haven't quite hit 20% so we're still paying PMI, but once that PMI payment is gone we'll probably just pay the minimum every month.Jandurin

I invest in a retirement fund (401k), but my logic is to get your amount owed on your house down to the 20% (which I just did recently) to be able to knock off the PMI. Also, if I can rid myselfof mortgage payments a few years beforethe full 30 year loanthen that's money in my pocket as soon as the house is payed off. My house wasn't that expensive so a mortgage payment extra a year may be far less expensive than what yours may cost. There is no right or wrong way imo I'm just throwing some ideas out there.

that's very true. my idea wouldn't be veryhelpful if you decide to sell too early into your loan.

im only 15.

[QUOTE="Atmanix"]

[QUOTE="FragStains"]Well, I'd just about kill a person for 3.9%.FragStains

I'm at %6.25... I can't even imagine %3.9 without crying a little.

bought a house in 2003 when the rates dropped low, then my wife and I had to move for military reasons and now we live in Military Housing!

buying the house was easy, reselling was a pain in the butt, but we bought it for 129,000 and sold it for 300,000!!!

i MISS my modern house!!! Military Housing = either a home from the 40s-70s which is nearly falling apart.