Comments on: Home Sweet Refinanced Home

By: Autumn @ Fleener House

Autumn @ Fleener House — Wed, 14 Sep 2011 23:49:44 +0000

Interesting to know. I was wondering how the whole refinancing things work, and much more interesting to know that you guys are on the fast-track to being debt free!

By: sydney

sydney — Thu, 22 Apr 2010 19:21:53 +0000

I wish we had a 15 year mortgage! We live in san Diego where houses are $uper Expen$ive! 30 years is the best we can do, and even that is a strech. We’ve had to look into a refi once or twice, but never pulled the trigger. Thanks for all the tips, its something every homeowner should know!

By: YoungHouseLove

YoungHouseLove — Fri, 12 Feb 2010 15:46:58 +0000

Aw thanks Sarah! We’re blushing over here. We definitely sleep better at night knowing that we’re clinging to the money advice that our thrifty dads passed along to us!

xo,
s

By: Sarah

Sarah — Fri, 12 Feb 2010 15:44:26 +0000

I just found your site a few weeks ago (this is my first comment!) and have been going back through your blog from the very beginning. I came across this post and to learn about your money habits made me smile! I am so proud of you guys and respect you even more. It is possible to live within your means while still having a home that is comfortable and reflects your own style. I know you will love your house even more when it gets paid off.
No debt is the safest debt!

By: Sara

Sara — Thu, 01 Oct 2009 21:05:06 +0000

Woo hoo to the refinancing! My fiance and I are only 14 days away from closing on our first home and we scored an interest rate of 4.625%. So exciting! Since we put down 20% for the downpayment we don’t have to pay the mortgage insurance on top of the home owner’s insurance—that’ll save a ton! You guys are so inspiring :) Now, if I could just talk my guy into a few pieces of white furniture instead of all wood ;) HAHA I love wood too but a little white would be nice!

By: Fred @ One Project Closer

Fred @ One Project Closer — Fri, 10 Apr 2009 04:22:17 +0000

John,

I just saw this — sorry I missed it!

So glad your refinance went well … We seem to share similar financial goals. Congrats on that, and on the outstanding success of your little piece of online real estate.

Thanks for the mention, too!

Fred

By: Julie

Julie — Tue, 31 Mar 2009 03:53:34 +0000

I’ve been waiting for this post ever since you mentioned refinancing on Twitter. One of the (many!) reasons I read your blog is that I’m like-minded when it comes to money. My husband and I have a 35 year old rancher on a 15 year mortgage. We live below our means and have no debt except the house, which is 1/3 paid off, and one car. We have a couple of friends who have also recently completed refinancing. Unfortunately (or fortunately?), we locked in at 4.5% originally, so there isn’t much we can do to lower our payment right now.

We were also paying more toward the principal, but decided to discontinue that and put extra money toward our retirement accounts since that money has much more potential to grow over the years. Also, the retirement money will actually be “cashed in” at some point, unlike the money spent on a house. Anyway, that’s how I have it worked out in my head! lol

By: erin

erin — Mon, 30 Mar 2009 21:36:56 +0000

We’re refi’ing our loan this month actually. We’re only 9 months into our loan so we were not worried about the setback in payoff. We’re in a 30-yr loan, the way real estate is in CA there is no way we’d be able to afford a 15-yr loan. It’s easy and very very inexpensive (FHA streamline refi, yay!) and we’ll save about $300/mo, which will be heaven with the baby coming in about 6 weeks.

By: bridget b.

bridget b. — Mon, 30 Mar 2009 16:40:53 +0000

we are thinking of starting a family this year and are currently refinancing. the advantage with the refi is that it will lock in and lower our interest rate (which is currently adjustable at about 7%). It will also lower our mortgage payment by several hundred dollars a month. We’ve owned the house for 5 years, but since we’re probably not planning to stay there forever, we’d rather have the extra cash now to pay down school loans, build up our savings and for any little additions to the family.

By: Ally S

Ally S — Mon, 30 Mar 2009 09:14:21 +0000

This is probably too personal a question – but to people who are re-financing, are you planning on having families soon?

Because even though it would be nice to debt-free by the age of 40, we’re thinking of prioritising the chunk of savings over a lower mortgage, as the baby conversations are cropping up more and more often.

Was this a factor in any of your decisions?