T and I went to the bank yesterday and we were able to fix our HELOC at 4.73 for the next 20 years! I'm so excited our payments are now $599. When we bought half the condo off my parents 2.5 (??) years ago we initially had to do interest only payments (dummmmb) because we couldn't afford the principal and interest payments. I believe the interest only was $550/mo. Then rates came down and we were finally able to afford the P&I and I think it was at about $760. So now we were able to break the 600 barrier and it feels great! Each time we've fixed it we've reset it back to 20 years though, but I think this was the last time, and I'm ready to start knocking some principal off. The renters have been paying pretty well since the government stopped their assistance so I'm feeling good!! (Knock on wood!)
Fixed HELOC at 4.73!
September 12th, 2010 at 02:40 am
September 12th, 2010 at 02:24 pm 1284301477
September 12th, 2010 at 02:59 pm 1284303541
September 13th, 2010 at 02:41 am 1284345676