So, about 12 weeks ago, DH and i decide to look into refinancing our 6.625 to a 5. whatever they were at. We were not excited about starting a new 30 yr, but it would have taken 150 off our payment per month, and gotten rid of our PMI. I made an appt at Cyprus to talk to a loan officer and she tells us, they are not quite where we want them but she'd keep her eye out. We fill out the papers and wait to lock in. After a few days, DH gets this hair brain idea to start looking at 15 year. Hey, the idea was to reduce payments, not double them. Turns out, it was only going to add 100 a month to our payments, 125 to be exact, and save us 89k over the life of the loan. So we call the Cyprus, and just as DH is talking to them, rates drop to 5% on the 15 yr. What luck.
Last Friday we closed, and it went through yesterday. feels so good to know that by the time 1-3 of 5 are moving out, our house will be paid off. They could possibly all be on missions at the same time, if they all go.
And seems to me, they get more expensive when they move out. College, weddings, car repairs. I've been watching my parents, now raising a 1 and 3 yr old, and my inlaws, putting kids through college, and that is worse than 2 gallons of milk a day, and out growning clothes every 6 months. There's no DI for college, like for kids clothes, or feeding them on a mission is more than a 3$ gallon of milk. Possibly 6$ by the time kids are raisig kids. Any way, just on my brain.
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