(Closed) Homeowners: What is your interest rate on your mortgage?

posted 7 years ago in Home
Post # 17
Member
646 posts
Busy bee
  • Wedding: May 2012

We just refinanced for 4.0% with PMI. Damn that PMI! 

Post # 18
Member
955 posts
Busy bee
  • Wedding: December 2012

5%.  And now I feel like we need to refinance! LOL

Post # 19
Member
10363 posts
Sugar Beekeeper
  • Wedding: September 2010

3.31% 30 yr fixed! We get our keys today!!

Post # 21
Member
1327 posts
Bumble bee

We are locked in at 3.75% on a 5 year Fixed Rate (with 20% down), it is up June 2014. Current rates are around 3.25% though so I am hoping when we renew we will get a lower rate. We can only lock our mortgage in 5 years at a time, well you could do more (up to 10 years) but that rates go up the longer you lock in for and cheaper for shorter lock-ins. The mortgage itself though is a 30 year mortgage.

Post # 22
Member
7310 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

@inky_1:  You may want to do some more searching. I would rather pay PMI and get a lower fixed rate than a higher fixed rate with no PMI. Remember, PMI is temporary, whereas that higher fixed rate is permanent. I would run the calculations both ways and see where the break even point is, then ask yourself if you plan to be in this house for a time period that exceeds that break even point. If so, the PMI with lower interest rate option would make more long-term financial sense. Just a thought. 🙂

Post # 23
Member
1582 posts
Bumble bee
  • Wedding: November 1999

3.25 on a 15 year loan.

Post # 25
Member
10020 posts
Sugar Beekeeper
  • Wedding: September 2012

 3.75%, 30-year fixed, no PMI. 

Post # 26
Member
259 posts
Helper bee
  • Wedding: September 2016

5.25% purchased 2 years ago, 30 year fixed, no PMI because I have the USDA home loan.

Post # 27
Member
2580 posts
Sugar bee
  • Wedding: November 1999

We just locked in 3.25% on a 30 year fixed. We are getting an FHA loan and will be paying PMI.

Post # 28
Member
1137 posts
Bumble bee
  • Wedding: September 2011

@inky_1:  Be careful with PMI, it can be high, so do your research. We are going down .75% and losing PMI and will be saving close to $500 a month… with 10% down.

Post # 29
Member
788 posts
Busy bee
  • Wedding: August 2014

Ours is 3.09% on a fixed rate 25 year amortization. We put down 5% so we are CMHC insured.

Post # 30
Member
4943 posts
Honey bee
  • Wedding: July 2012

4%, which was what the lowest was when I refinanced.

Post # 31
Member
8440 posts
Bumble Beekeeper
  • Wedding: April 2013

3.75% conventional 30 yr with no PMI (we locked our rate in the spring of this year)

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