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Portable mortgages
Posted on 11/12/25 at 4:03 pm
Posted on 11/12/25 at 4:03 pm
Loading Twitter/X Embed...
If tweet fails to load, click here. So since I have a 15 year mortgage that is fixed rate 3.375 %. Current rates are 5.61%.
If I want to move instead of taking it in the arse, I can lock in my current rate from my old house and reuse it to finance the new one.
Works for me.
frick the banks.
27
Posted on 11/12/25 at 4:05 pm to Kjnstkmn
quote:
frick the banks
Also, apparently this is the plan for eliminating property taxes, interest (low rates) from new state credit unions will replace the property taxes:
Loading Twitter/X Embed...
If tweet fails to load, click here. End the endless.
This post was edited on 11/12/25 at 4:07 pm
Posted on 11/12/25 at 4:05 pm to Kjnstkmn
If this was to happen, it would be incredible. Seems like it would be difficult for banks to underwrite.
Posted on 11/12/25 at 4:06 pm to Kjnstkmn
That actually seems like a very neat idea... 
Posted on 11/12/25 at 4:06 pm to Kjnstkmn
quote:
Works for me. frick the banks.
Considering they risk manage on a 10 year yield as that is close to the normal refi / repay cycle, yes they are fricked.
Posted on 11/12/25 at 4:06 pm to Kjnstkmn
This is the way
Posted on 11/12/25 at 4:07 pm to Kjnstkmn
quote:
If I want to move instead of taking it in the arse, I can lock in my current rate from my old house and reuse it to finance the new one.
But can you only transfer the balance remaining towards the new property?
Posted on 11/12/25 at 4:08 pm to TrueTiger
quote:
But can you only transfer the balance remaining towards the new property?
most likely. If you owe 300k at 2.5 on your house and move into a 2 million dollar house, they wont let you do the whole thing at 2.5%
That is my guess.
Posted on 11/12/25 at 4:08 pm to Kjnstkmn
quote:
So since I have a 15 year mortgage that is fixed rate 3.375 %. Current rates are 5.61%.
If I want to move instead of taking it in the arse, I can lock in my current rate from my old house and reuse it to finance the new one.
frick that
This is just a fancy way of saying some people get subsidized and other people get to hold the bag. People who bought at lower rates are not any more special than people who have bought at higher rates
Posted on 11/12/25 at 4:11 pm to BigGreenTiger
My guess to.
I would like them to all be assumable so that it might be easier to sell.
I would like them to all be assumable so that it might be easier to sell.
Posted on 11/12/25 at 4:12 pm to GeauxBurrow312
quote:
People who bought at lower rates are not any more special than people who have bought at higher rates
This is the ultimate in if you like your plan, you can keep it.
I assume nothing would be barring borrowers from refinancing to more favorable rates- if not, then this really sounds like a game changer.
It would also encourage people to move up from their first home, freeing up cheaper housing stock to first time buyers. Win/win.
Posted on 11/12/25 at 4:13 pm to BigGreenTiger
quote:
… difficult for banks to underwrite
https://www.usdebtclock.org/book/The-New-Money-Revolution.pdf
New state credit unions will offer low interest mortgages also:
frick the banks
This post was edited on 11/12/25 at 4:15 pm
Posted on 11/12/25 at 4:15 pm to BigGreenTiger
no way. The difference would be financed at prevailing rates and you'd essentially be paying a multi-rate mortgage.
The banks would never allow this. Anyone with a mortgage would be locked into a low rate for life.
The banks would never allow this. Anyone with a mortgage would be locked into a low rate for life.
Posted on 11/12/25 at 4:15 pm to SallysHuman
quote:
would also encourage people to move up from their first home, freeing up cheaper housing stock to first time buyers. Win/win.
This
Posted on 11/12/25 at 4:16 pm to Kjnstkmn
This is a WAY better idea than 50 year mortgages. This actually helps people and saves them money.
Posted on 11/12/25 at 4:17 pm to Gifman
quote:
This
And it makes SO much more sense for homeowners than a friggin 50yr mortgage.
I'll keep an eye on this thread to see if their are downsides people can find, but this looks like amazing out of the box thinking that could have great benefit to existing as well as potential and first time homebuyers.
Posted on 11/12/25 at 4:18 pm to Gifman
If thats true, I'm telling my kid to buy a 100K dump of a shite-barn on a 15 year term at 5%. He get to keep that rate on ANY mortgage debt he has for the rest of his life. There is no way that is how it would work.
Posted on 11/12/25 at 4:19 pm to SallysHuman
quote:
This is the ultimate in if you like your plan, you can keep it.
Its not the same, most mortgages get packaged and resold frequently. If you go to the bank that issued you your first loan, they likely dont still own your original. They would have to take a loss on the next loan (which is completely unique to your prior loan) to you to offer such a steep rate discount - which almost guarantees the gov stepping into subsidize it
Posted on 11/12/25 at 4:21 pm to Vacherie Saint
5% is not a good rate.
3.375 or even lower is a good rate.
US Debt clock is saying the new state credit unions will be offering 0-3%
3.375 or even lower is a good rate.
US Debt clock is saying the new state credit unions will be offering 0-3%
This post was edited on 11/12/25 at 4:21 pm
Posted on 11/12/25 at 4:22 pm to Vacherie Saint
If I had to guess they will make the “portable” part of that only possible for 2 purchases then you have to get another mortgage on your third purchase
This post was edited on 11/12/25 at 4:23 pm
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