Settlement Day !

mmcmdl

mmcmdl

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The daughter settles on her new house today . We have to do the final inspection before hand . Will be a long day for all of us but when finished , she'll be a home owner . ( and in deep debt ) :eek: I know she'll make out great in the long run so Congrats to her . :cool:
 
She had to take out a loan before her new position started . She has started now and can refinance thru her employer when the rates ever go down . I let her know to go bi-weekly payments with extra on the principle . She's been staying in long term hotels down in DC for 3 weeks now so she's excited to get her own place . So am I , I can unload some junk down at her place ! :big grin:
 
toprecyler said:
Congratulations. I would encourage her to try to make extra payments, even if only $10 a month early on in her mortgage. Will pay great rewards in long term interest costs.


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yep, that's how we did it. We put in whatever we could extra, and in the lean times just the base payment. We finished up early...

Still have to pay taxes though.
 
Yes, even throwing only $1000 dollars extra at the mortgage in the first year, has major payoff years down the road.
I don't look at buying a home a debt. It is an investment that slowly grows usually at the rate of inflation. Unfortunately the interest is holding one back until paid for. Unlike a car which loses value all the time, it can be cashed in when moving etc.
 
It went well other than it took 3 hours getting home on the Balto Beltway . Be making trips tomorrow and Sunday loaded up for bear . :)
 
toprecyler said:
Congratulations. I would encourage her to try to make extra payments, even if only $10 a month early on in her mortgage. Will pay great rewards in long term interest costs.


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I bought mine on a 15 year loan, put 15% down and paid it off in 11 years back in Jan. It's been awesome not having a mortgage payment!
 
coolidge said:
I bought mine on a 15 year loan, put 15% down and paid it off in 11 years back in Jan. It's been awesome not having a mortgage payment!
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Amen. Although I did a 30 year, and refinanced , consolidated, getting extra money, about 3-4 times, each time resetting the 30 year payment. Still managed to pay it off in 25 years from date of first mortgage.

If I had to do it over, I would have done some things different for sure. The value of having hindsight vision 20 years later in life.


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