What are your closing costs?

 

We refinances in April. Would we be able to do it again? We're at 4.25% on a 15-year note. Could I get a lower rate if I went to 10 years?

 

10 yr rates are sick !!! If you have 4.25% on a 15 yr it depends on how much you owe on your mortgage to be honest. You could get 3% more than likely on a new 15 yr term but you have to weigh how much it lowers your payment against the closing costs. Obviously the higher your mortgage balance the more savings you will see.

 

PM me the info and I can run some numbers for you.

I don't mind giving this in public. We owe about $86,000. Our current payment is $1,030.77, but we pay significantly more than that each month.

I don't mind giving this in public. We owe about $86,000. Our current payment is $1,030.77, but we pay significantly more than that each month.

 

Ever consider investing the "extra payment" into something earning more than your mortgage rate?

I don't mind giving this in public. We owe about $86,000. Our current payment is $1,030.77, but we pay significantly more than that each month.

 

Edit, saw your earlier post.

Ever consider investing the "extra payment" into something earning more than your mortgage rate?

 

Not really. Depending on whether we can sell some property we own, we could be completely out of debt in 3 years. Owing no one anything at 37-years-old is very appealing. I understand the math doesn't necessarily add up, but I want to be free & clear of all creditors more than I want anything else.

Not really. Depending on whether we can sell some property we own, we could be completely out of debt in 3 years. Owing no one anything at 37-years-old is very appealing. I understand the math doesn't necessarily add up, but I want to be free & clear of all creditors more than I want anything else.

Then you can call Dave Ramsey and scream, "We're debt freeeeeeee!!!"

Not really. Depending on whether we can sell some property we own, we could be completely out of debt in 3 years. Owing no one anything at 37-years-old is very appealing. I understand the math doesn't necessarily add up, but I want to be free & clear of all creditors more than I want anything else.

 

I think there are a lot who get the math but like that debt-free feeling.

I love the fact my house is paid for already. Now if I could get rid of all this commercial debt Id be calling Dave myself.

Then you can call Dave Ramsey and scream, "We're debt freeeeeeee!!!"

 

That's a call I've been waiting to make for quite some time. While I've always leaned toward being tighter than bark on a tree, Ramsey's counsel helped funnel that focus. I'm well aware he has his naysayers, but his guidance has been a breath of fresh air. The greatest part of that program, IMO, is the three-fold purpose of it: 1) To change your family tree. I want my daughter to have what I didn't. 2) To build wealth & have your money make more than you ever did. And most importantly 3) To be a very generous giver. While I feel we give generously now, I want to be able to do it more often & in bigger amounts.

 

I think there are a lot who get the math but like that debt-free feeling.

 

Believe me, there are times when I want to go a different direction, especially when I get on here & see how well some of you guys are doing in the market. But it all eventually comes back to not being a debtor to anyone. Outside of retirement accounts (a maxed Roth & a pair of 403b's) & a college account, we're not doing any other investing right now.

Yep.

 

I'm pre-approved for much more than I can afford, and have used a few of those, but they never seem to factor in taxes, insurance, etc.

 

For the taxes see if your local PVA has a website that will give your tax estimates. For example the Henderson PVA's website will give you what the city and county taxes would be based on the home value. It may not be exact but will be very close. I would also suggest calling you insurance company and getting an estimate on home owners insurance. This is what I did when we bought our house and I was able to calculate my payment within $10 - $20.

That's a call I've been waiting to make for quite some time. While I've always leaned toward being tighter than bark on a tree, Ramsey's counsel helped funnel that focus. I'm well aware he has his naysayers, but his guidance has been a breath of fresh air. The greatest part of that program, IMO, is the three-fold purpose of it: 1) To change your family tree. I want my daughter to have what I didn't. 2) To build wealth & have your money make more than you ever did. And most importantly 3) To be a very generous giver. While I feel we give generously now, I want to be able to do it more often & in bigger amounts.

 

Believe me, there are times when I want to go a different direction, especially when I get on here & see how well some of you guys are doing in the market. But it all eventually comes back to not being a debtor to anyone. Outside of retirement accounts (a maxed Roth & a pair of 403b's) & a college account, we're not doing any other investing right now.

:clap: :clap: :clap: Well done, Randy Parker! You are doing "better than you deserve".

For the taxes see if your local PVA has a website that will give your tax estimates. For example the Henderson PVA's website will give you what the city and county taxes would be based on the home value. It may not be exact but will be very close. I would also suggest calling you insurance company and getting an estimate on home owners insurance. This is what I did when we bought our house and I was able to calculate my payment within $10 - $20.

 

Here ya go, you can find out exactly what it was last year.

 

http://campbellcountykypva.org/

:clap: :clap: :clap: Well done, Randy Parker! You are doing "better than you deserve".

 

I can't argue with that! :thumb:

Here ya go, you can find out exactly what it was last year.

 

http://campbellcountykypva.org/

Also the PVA will reset your tax based on the purchase price. What better assessment is there then what a house just sold for. I would guess the exception would be if the purchase price was obviously way low.

That's a call I've been waiting to make for quite some time. While I've always leaned toward being tighter than bark on a tree, Ramsey's counsel helped funnel that focus. I'm well aware he has his naysayers, but his guidance has been a breath of fresh air. The greatest part of that program, IMO, is the three-fold purpose of it: 1) To change your family tree. I want my daughter to have what I didn't. 2) To build wealth & have your money make more than you ever did. And most importantly 3) To be a very generous giver. While I feel we give generously now, I want to be able to do it more often & in bigger amounts.

 

 

 

Believe me, there are times when I want to go a different direction, especially when I get on here & see how well some of you guys are doing in the market. But it all eventually comes back to not being a debtor to anyone. Outside of retirement accounts (a maxed Roth & a pair of 403b's) & a college account, we're not doing any other investing right now.

 

That's great Randy and now you even get a FREE BGP shirt to add to your wardrobe after winning the All A Tate Contest.

Nothing wrong with being tighter than two coats of paint. Some of the wealthiest people accumulated their riches this way.