Originally Posted by
rubiksoval
I started last month! I was also at 4.1% for 30 and am now 2.1% for 15. I only have about 85k left, but with the additional I've been paying each month, this new loan will work out to be $10 a month less and a few thousand less in total overall. Should be finished next month.
I was planning on paying off the house anyway in five or six years, but at 2.1% I'll probably just pay for the full period and save the money to work on projects I was likely going to have to take a loan out for anyway. Or save for another down payment on a house to rent out.
Yeah, I'm not planning on staying long, and we're still at 27 years or so and over $350k in balance. I considered 15 year, we can afford it, but the difference in interest rate wasn't worth it, we can take the extra and invest it and do better. With our balance going to 15 year made the payments substantially higher, which limits options in the future.