Well I found out today that I get to refinance my house and the wife’s car to lower interest rates. So I will save $219.36 per month by refinancing. With the housing market like it is I was only able to get a 5.25% 10 year fixed loan from my Credit Union.

The big banks don’t want to loan money for less then $200,000.00 and I owe less then $80,000.00 on the house. But over the next 10 years it will save me a bit more then $25,000.00 in interest. I know some say it cost a lot to refinance but my Credit Union is doing it for only $1250.00 and the 25K saving is after deducting the cost to refinance the house.

 

nice. . .so what kind of rate did you have on your house???

and how many letters in the mail do you get saying you can finance for a new 4.5% rate. . .I did the math on my house. it would cost more over the life of my loan to refinace even though Ive got a 6.0%. however I would have 18 fewer payments to make.

 

Know you can afford to pay for more fuel!!!!

 

I tried to work some magic with my insurance agent today. All I was able to save was $14.00 a year. They were billing me the 14 for towing should i need it. I already have AAA, so I didn't need it.

Congrats on the monthly savings DB, and more importantly the 25K savings !! That's GOTTA feel good for sure !!

 

mayfair why do you have AAA? compare it to the insurance roadside. last i checked aaa was like 35-50 bucks a year and they give you a free map...

 

Insurance roadside has a 40 dollar deductable, and only covers you for like 25 miles or something. With AAA I can be towed from up to 100 miles away.

 

hahaha yous gots somes cheeep assss ensurance

are you military? USAA? i really feel bad for people that cant get USAA, man even just join the guard and get it... its worth it...

 

USAA is Da Bomb. . . all three vehicles covered and the house. state farm, heck, gieco couldnt even touch USAA

 

if youre married do ya have the wedding ring insured specifically?

 

Derw,

My interest rate was 5.25% on the house and now I've not seen any mail offering 4.5%. The last time I saw one with an offer below 5% they also wanted to charge you $5,000.00 or more to do the loan so that means it would take over 2 years to just recoup the loan cost. If you could get a bank to loan you any money now days they want 6.25% or what ever the going rate is today as it has gone up 1% in the past 2 weeks.