Tundras live: Free Hot Takes With Every Visit

Yeah, we deliberately chose to go 25 even though they offered us 30.

Now I'm glad we didn't try to go 20...

 

Remember that your mortgage is amortized, which means it's (very probably) taking the most money out of your pocket month over month. Adding principal, whether by lump sum or a little each month, will drastically change the total interest paid by the end of the loan. Unless you're near the end of your mortgage term (doesn't sound like you are), or plan on moving soon, this will be your biggest hitter.

Plus, paying off my mortgage was the 2nd biggest emotional baggage offload I've ever experienced, and put my resting mood way higher.

 

I'm with Zach here.
That 5/25 is a lot like a variable interest rate loan...you get in at a lower entry but that balloon (or refinance) at the end of 5 is a gamble. If you'd refinanced a year ago into a conventional a year or so ago, you'd be sitting pretty (we got in on 2.4% for a 15-yr conventional). Unfortunately, things have swung the other direction with the FED (at least in the US) pushing to completely stall the economy inflation with high interest rates. There's still some hope that by the end of the year you might see some relief on mortgage rates, but I'd be using that money to buy down your rate or get your principal reduced before you get bitch-slapped in the refinance.

 

You forgot your 4th option:

4. Buy Azblue something cool.

 

How you like these?

 

FFS just spotted another c*nty groundhog… shizzling around the shed…

 

No, I said something cool.

 

Did the bastard see his shadow? I'm tired of winter.

 

X2

 

You don't want your very own Middle Michigan Adventure Man?

 

We lucked out on the timing 18 months ago, got 2.0 fixed for 15 years.

I don't know how those ARM's work but I imagine they go up every term (5yrs?)
If they don't hit you too bad @Cpl_Punishment you could pay the car off and then refinance before the next rate hike in 5 years.

 

We went from 7.5% fixed 30y 3% down 0 points to 5.5% fixed 30y fixed 0 down 0 points to 2.5% fixed 15y 0 down 0 points (that one was huge as it cut 7 years off the loan with the same payment) then payed it off early.

@Cpl_Punishment do what you have to to lock it in at the best rate with shortest term you can afford then pay off the car and dump that monthly into the morgage and get out from under it asap.

 

So the border service can steal it?

 

There's always the chance rates could go down in the next 5 years but I won't hold my breath. If I'd been able to see the future, I would have done a shorter term and then renewed it when everything was rock bottom in 2020.

 

That's awesome!
We first did a refi at 3.5 I think, and pulled some cash out.
This last one was also 0 points, 0 down @2%. I couldn't lock that in fast enough, lol.
I'll be around 53 y/o if I don't pay it off early

 

I hear ya. I missed out on AOL, then on Yahoo!...hell...I remember when bitcoin was like 15 cents. FWIW...we will probably revalue the dollar before you see see interest rates go down. I'd get debt free asap.

 

2% is a phenomenon rate. I thought we killed it at 2.5.

 

I’ve said it before, I’ll say it again, it’s bikini season here already, and it’s great!

 

Pay the car off as it will free up a larger monthly amount than paying a small portion of the mortgage (which will net you zero extra $$ monthly); then take the extra $$$ you have monthly from the car loan and start paying extra toward the mortgage; once interest rates swing the other way, look to refinance the remaining balance of your mortgage on a low fixed rate 15yr.... (and calculate what you'd need to pay extra each month to have the loan paid in 10yr)

 

Hamburger Hill!

 

I want to see a photo of you in yours!!!!!

 

It was dead today

 

Is this where you find your local meat?

 

Something like that

 

He / she / they / them whatever the f*ck it was legged it when it saw me