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Old 01-21-2020, 12:07pm   #1
Egnalf
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Default Gotta love credit unions
I recently made a substantial principal payment to both of my mortgages. My credit union has the primary. They called me to ask if I wanted the payment to recue the term, or reduce the amount of monthly payment. Nice. I took the payment, because I make large payments every year to reduce overall principal.
While on the phone, Fred, the guy, asked about my second property since he knew I had it financed elsewhere. I told him I thought they didn't do second homes with jumbos. He said they do now, and offered me a 3.35% rate with no fees to refinance, none. Secured a twenty year jumbo, reducing my term by 6 years and for slightly less money each month. Score.

Dang people have my wanting to buy something else to do business with them.

Yes, I know you all have paid your off. I choose to not do that when rates are 3.5% and you can earn 15% or more in the market.
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Old 01-21-2020, 12:17pm   #2
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When we bought the FL house we financed it for several reasons. When the CO house sold we invested most of the proceeds but also refinanced the FL house at a lower balance. The CU we joined here paid all of the closing costs for the ReFi and the interest rate is lower than anywhere else around.
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Old 01-21-2020, 12:22pm   #3
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I have my multiple mortgage payments delivered by my assistant via private jet. Even the one in Fiji. I only make two payments per year, so it offers her a vacation as well.
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Old 01-21-2020, 12:26pm   #4
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I like mine a lot. Navy Federal has been a great one through the years.
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Old 01-21-2020, 12:40pm   #5
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I like mine a lot. Navy Federal has been a great one through the years.

They are so much better than banks. My mortgage interest couldn't be touched by a bank. 3.25%
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Old 01-21-2020, 12:52pm   #6
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They are so much better than banks. My mortgage interest couldn't be touched by a bank. 3.25%
I'm sure most on this board or old enough to remember back in the 80s when mortgage rates were in the teens. These rates today make money feel like it's free
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Old 01-21-2020, 12:55pm   #7
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I'm sure most on this board or old enough to remember back in the 80s when mortgage rates were in the teens. These rates today make money feel like it's free
True, but they paid better interest on your money back in the old days. This .001 chit on savings does not encourage kids to save anymore
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Old 01-21-2020, 2:08pm   #8
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We have a 30 year note on our house that I am paying off at about a 20-year amortization.
Seeing penfed has 15 year loans for 2.875% with 1-point. 3.125% w/0 points

that's tempting.
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Old 01-21-2020, 2:39pm   #9
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I choose to not do that when rates are 3.5% and you can earn 15% or more in the market.
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Old 01-21-2020, 3:27pm   #10
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shop loan at 2.99%.
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Old 01-21-2020, 3:34pm   #11
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I’ll use mine to get the new house and float the balance till I sell present house...
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Old 01-21-2020, 3:35pm   #12
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I’ll use mine to get the new house and float the balance till I sell present house...
Did you ever find one yet?
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Old 01-21-2020, 4:37pm   #13
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shop loan at 2.99%.
damn, haven't seen any in the twos. killer deal, build two shops at that rate
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Old 01-21-2020, 4:38pm   #14
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damn, haven't seen any in the twos. killer deal, build two shops at that rate
snagged that refi in early 2015 from Quicken.
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