3.0 for 15 year mortgage

[blazinlow89]

Originally Posted by StadEMS3

1st Mariner is where my friend works as a Sr Loan Officer. He took care of me several times. The loans roll right over to Wells Fargo and I can't complian about that, great service from them too.

Jeff Gay???

Our loan rolled over to BB&T which has been awesome to deal with. My only complaint which seems to be an issue with different loan companies, is that they cannot automatically setup bi-weekly payments. Best thing I did with my car loan. They recommended a 3rd party company and that may be what I do.

[StadEMS3]

Originally Posted by blazinlow89

Jeff Gay???

Our loan rolled over to BB&T which has been awesome to deal with. My only complaint which seems to be an issue with different loan companies, is that they cannot automatically setup bi-weekly payments. Best thing I did with my car loan. They recommended a 3rd party company and that may be what I do.

Yup, we go WAY back to the Air Force days at Andrews.

[blazinlow89]

Originally Posted by StadEMS3

Yup, we go WAY back to the Air Force days at Andrews.

LOL, you probably know my step dad then. He talked about the Andrews days when we came in, found he used to work with my step dad. Really good guy to deal with and loan process was almost stress free, minus a few minor hickups here and there.

[ProfMoneyWise]

Originally Posted by blazinlow89

Jeff Gay???

Our loan rolled over to BB&T which has been awesome to deal with. My only complaint which seems to be an issue with different loan companies, is that they cannot automatically setup bi-weekly payments. Best thing I did with my car loan. They recommended a 3rd party company and that may be what I do.

Don't pay a fee to do what you can do yourself.

Divide your payment by 12 and send in that amount as extra principal each month or just save up 1/12th each month and send that in once a year.

It equates to approximately 8 years of a reduction on a 30 year mortgage.

Look into a 15yr fixed and do a re-buy at a very low rate. You may find the cost to do so to you per month as far as a payment goes may be very doable and close to the same amount you are looking at with adding the 1/12th payment.

Good thinking either way. Owning where you eat and sleep is liberating.

[meddauna]

Originally Posted by Hessian

My recollection may be fuzzy,....did I post on Lending Tree=multi salespeople hit within minutes?? Very possible. I KNOW I did look at Quicken,...even called I think.


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Anyone here ever use Monarch Mortgage? (Waldorf office)

I used monarch mortgage when i bought my house 1.5yr ago. Specifically Don Rosier. I don's have any complaints. Don sat down with me for several hours going over every bit of paper work and made sure i understood everything. Not your typical sign here and leave deal. While looking for a house, my realtor would call him and he would get up from dinner with his family to get onto his computer to help me out and put out an offer. Perhaps this is typical of these kinds of places, but i enjoyed working with them.

[tommyjo]

Originally Posted by ProfMoneyWise

Don't pay a fee to do what you can do yourself.

Divide your payment by 12 and send in that amount as extra principal each month or just save up 1/12th each month and send that in once a year.

It equates to approximately 8 years of a reduction on a 30 year mortgage.

Look into a 15yr fixed and do a re-buy at a very low rate. You may find the cost to do so to you per month as far as a payment goes may be very doable and close to the same amount you are looking at with adding the 1/12th payment.

Good thinking either way. Owning where you eat and sleep is liberating.

Paying off a mortgage early is dumb. Anyone with an ounce of economic or financial training will tell you that. Those that advocate shorter term mortgages or early playoffs simply do not understand very basic principals of money.

[Baja28 (Premo)]

Originally Posted by tommyjo

Paying off a mortgage early is dumb. Anyone with an ounce of economic or financial training will tell you that. Those that advocate shorter term mortgages or early playoffs simply do not understand very basic principals of money.

This post shows how stupid you really are.

[blazinlow89]

Originally Posted by ProfMoneyWise

Don't pay a fee to do what you can do yourself.

Divide your payment by 12 and send in that amount as extra principal each month or just save up 1/12th each month and send that in once a year.

It equates to approximately 8 years of a reduction on a 30 year mortgage.

Look into a 15yr fixed and do a re-buy at a very low rate. You may find the cost to do so to you per month as far as a payment goes may be very doable and close to the same amount you are looking at with adding the 1/12th payment.

Good thinking either way. Owning where you eat and sleep is liberating.

The plan I am considering should get me paid down quickly. I want to do bi-weekly payments which will net one extra payment a year on its own. The second part would be like you describe and to pay an extra $50 a payment.

My monthly payment is 1399, $230,000 loan with a 3.75% interest rate. It will be easier to pay extra after the wedding and I pay my truck off.

[ProfMoneyWise]

Originally Posted by blazinlow89

The plan I am considering should get me paid down quickly. I want to do bi-weekly payments which will net one extra payment a year on its own. The second part would be like you describe and to pay an extra $50 a payment.

My monthly payment is 1399, $230,000 loan with a 3.75% interest rate. It will be easier to pay extra after the wedding and I pay my truck off.

You and your spouse read The Total Money Makeover by Dave Ramsey. Walk those steps together and you will continue to benefit from your already good thinking.

[ProfMoneyWise]

Originally Posted by tommyjo

Paying off a mortgage early is dumb. Anyone with an ounce of economic or financial training will tell you that. Those that advocate shorter term mortgages or early playoffs simply do not understand very basic principals of money.

Guilty on all and happy in my lack of understanding.