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What kind of mortgage do you have?

Forum Opinion Poll
30 year fixed rate 78 74.29%
15 year fixed rate 4 3.81%
5 year arm 4 3.81%
7 year arm 4 3.81%
5 or 7 year arm IO 4 3.81%
other 11 10.48%
 

What type of mortgage do you have?

Posted By Message
Pages: 1 [2]

danielle
LIF Infant

Member since 7/05

137 total posts

Name:

Re: What type of mortgage do you have?

30 year fixed on our co-op and will do the same with the house we will buy.

Posted 8/25/06 10:08 PM
 

Karen
Just chillin'!!

Member since 1/06

9690 total posts

Name:
Karen

Re: What type of mortgage do you have?

30 year fixed

Posted 8/25/06 10:08 PM
 

Tumbalina
Better than the news!

Member since 2/06

2840 total posts

Name:
Angela

Re: What type of mortgage do you have?

Posted by Nicole728

we have a 30 yr fixed


me too.

Posted 8/26/06 9:35 AM
 

Diane
Hope is Contagious....catch it

Member since 5/05

30683 total posts

Name:
D

Re: What type of mortgage do you have?

we have a 15 year fixed

Posted 8/26/06 10:59 AM
 

mommy2Alex
3 babies for me :)

Member since 5/05

6683 total posts

Name:

Re: What type of mortgage do you have?

We have a 15 year mortgage with only 7 years left.

Posted 8/27/06 9:57 AM
 

Blu-ize
Plan B is Now Plan A

Member since 7/05

32475 total posts

Name:
Susan

Re: What type of mortgage do you have?

We originally took out a 80/10/10..the second loan was not fixed..but we ended up refinancing very soon at a better rate. Now it's a 30 year fixed.

The condo is a 10 year IO fixed. We did that because we plan on selling it in a few years. So far it's worth more than we paid. So far so good.

We may end up selling it next year. Hopefully the market will hold up.

Posted 8/27/06 10:23 AM
 

skew
LIF Adult

Member since 5/05

6794 total posts

Name:

Re: What type of mortgage do you have?

Posted by Meaghan729

Posted by lululu

Funny you say that - FH and I work in heavily bonus based jobs and the most attactive feature for us was the fact that we could make large principal repayments, without penalty, and have our monthly payments adjust instantly.



unfortunatley I know people who are teachers that have IOs!!! and they have NOT been making principle payments Chat Icon




what is wrong w/ not making principle payments? i decided to go w/ the IO ARM w/ the intention of NOT paying towards principle. iinstead, i invest the $$$ at an equal or higher rate. i am actually making money instead of dumping into equity. i kow it is not for everyone but it was the best decision for me.

Posted 8/27/06 11:03 AM
 

2Pisces
Life Coach

Member since 2/06

3337 total posts

Name:
Paige

Re: What type of mortgage do you have?

Posted by charon54

We have two mortgages, 80% fixed, 15% home equity (which we fixed through Wamu's Personal Equity Management product). This way we avoided PMI.



us too.

Posted 8/27/06 11:04 AM
 

MegZee
My bunny

Member since 5/06

8777 total posts

Name:
Meaghan

Re: What type of mortgage do you have?

Posted by skew

Posted by Meaghan729

Posted by lululu

Funny you say that - FH and I work in heavily bonus based jobs and the most attactive feature for us was the fact that we could make large principal repayments, without penalty, and have our monthly payments adjust instantly.



unfortunatley I know people who are teachers that have IOs!!! and they have NOT been making principle payments Chat Icon




what is wrong w/ not making principle payments? i decided to go w/ the IO ARM w/ the intention of NOT paying towards principle. iinstead, i invest the $$$ at an equal or higher rate. i am actually making money instead of dumping into equity. i kow it is not for everyone but it was the best decision for me.



because i know these people arent investing there $$ at a higher rate!

i said IOs were good for some people, but not for most people.

im glad its working out for you, but most people do not have that kind of disipline.

Posted 8/27/06 11:11 AM
 

CunningOne
***

Member since 5/05

26975 total posts

Name:

Re: What type of mortgage do you have?

We started with a 30-year fized rate at 8.25% back in 2000. Chat Icon

We re-fied in 2002 and now have a 15-year fixed rate at 5.25%.

Posted 8/27/06 7:39 PM
 
Pages: 1 [2]
 

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