| RE:Real estate question... |
Subject: RE:Real estate question... by DrEvil on 2008/2/12 0:32:16 Redwing, why the hate all of a sudden?  Its just a discussion after all. Your response makes you appear immature and childish. Back on topic. I dont have alot to add other than my perspective on 30yr fixed mortgages. I got into our house 5 years ago for 139k at 5.5% fixed on a 30yr VA. I try to pay a bit extra here and there, maybe an extra $500-$1000 a year. I plan to pay it off in 22-24 years. I also have a unique perspective on those last 10 years of my mortgage. A $940 a month house payment (includes taxes and ins) 5 years ago was fairly steep for me. Its not so bad now. In ten years my electric bill is likely to be close to that amount. The last 10 years, more so the last 5 will be a small % of my income. Another benefit to a fixed is inflation. If we have steep inflation and wages at least come close to keeping up then I will be able to pay my house off sooner. I like where I live and want to stay here. Frank, if you sell your house for $400k you can move down here. We have no state income tax, better roads and little snow. |
