danewilson77
02-14-2013, 05:42 PM
http://i1015.photobucket.com/albums/af278/nicee46/Home%20stuff/WilsonsPlace.jpg
Out my kitchen window
http://i1015.photobucket.com/albums/af278/nicee46/Home%20stuff/IMAG1889.jpg
http://i1015.photobucket.com/albums/af278/nicee46/Home%20stuff/Myhome2-1.jpg
So...we purchased out home newly built construction in March of 2007 (6 years ago).
I had to enter into some sleazy mortgage (I guess it wasn't sleazy), in order for us to afford the home, my wife wanted. 3200 sqft, on 3.1 acres, in Williamsburg, VA. Pretty much our dream home as we like living where it's quiet, and have 5 kids.
At any rate, when I purchased, I believe it was just prior to the housing collapse. I did an 80/20 loan (no longer allowed) so I didn't have to pay the Primary Mortgage Insurance (PMI) and it was interest only. That's the ball buster right there, as I knew the 7 year ticker had started until I had to start making the amoritized payments. (>$3k/mo). My plan all along was to re-fi though.
I owed $318,000 on my first in 2007. Today.....after making 6 years worth of payments, I still owed $316,000 :facepalm. It would have been the same number had I not thrown a little better extra at it, when I could.
Last month I started seeing the Quicken Loan commercials, and blew it off several times, but finally gave them a call, as one of my goals for retirement this year was to get the house refinanced.
I called them up and started the process, and had my housed refinanced and closed on, in < 3 weeks. :)
I can not even begin to describe to you guys how easy the process was with these people (Nadine Itawi was amazing) . Everything was done online, and at closing they had the notary go to a location of our choosing.
My interest rate before was at 6.375%. Payment was $1989.00/month > Interest only.
My interest rate after is 3.99%. Payment is $1881.00 > 30 year fixed > Principal and Interest.
Additionally, if I just pay what I've always been paying ($1989.00), I will pay off the house in 26 years, vice 30. So in effect, I will have only really lost 2 years....and I'm willing to bet, if I make an extra payment each year, I could have it paid off in about 20 years.
So, I just wanted to let you know that they offer a quality product, with top notch customer service, and a very efficient method, to getting your house refinanced.
Have a great Friday.
Out my kitchen window
http://i1015.photobucket.com/albums/af278/nicee46/Home%20stuff/IMAG1889.jpg
http://i1015.photobucket.com/albums/af278/nicee46/Home%20stuff/Myhome2-1.jpg
So...we purchased out home newly built construction in March of 2007 (6 years ago).
I had to enter into some sleazy mortgage (I guess it wasn't sleazy), in order for us to afford the home, my wife wanted. 3200 sqft, on 3.1 acres, in Williamsburg, VA. Pretty much our dream home as we like living where it's quiet, and have 5 kids.
At any rate, when I purchased, I believe it was just prior to the housing collapse. I did an 80/20 loan (no longer allowed) so I didn't have to pay the Primary Mortgage Insurance (PMI) and it was interest only. That's the ball buster right there, as I knew the 7 year ticker had started until I had to start making the amoritized payments. (>$3k/mo). My plan all along was to re-fi though.
I owed $318,000 on my first in 2007. Today.....after making 6 years worth of payments, I still owed $316,000 :facepalm. It would have been the same number had I not thrown a little better extra at it, when I could.
Last month I started seeing the Quicken Loan commercials, and blew it off several times, but finally gave them a call, as one of my goals for retirement this year was to get the house refinanced.
I called them up and started the process, and had my housed refinanced and closed on, in < 3 weeks. :)
I can not even begin to describe to you guys how easy the process was with these people (Nadine Itawi was amazing) . Everything was done online, and at closing they had the notary go to a location of our choosing.
My interest rate before was at 6.375%. Payment was $1989.00/month > Interest only.
My interest rate after is 3.99%. Payment is $1881.00 > 30 year fixed > Principal and Interest.
Additionally, if I just pay what I've always been paying ($1989.00), I will pay off the house in 26 years, vice 30. So in effect, I will have only really lost 2 years....and I'm willing to bet, if I make an extra payment each year, I could have it paid off in about 20 years.
So, I just wanted to let you know that they offer a quality product, with top notch customer service, and a very efficient method, to getting your house refinanced.
Have a great Friday.