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Anybody get extremely lucky with mortage and auto financing in the last two years or so?
Posted on 6/13/22 at 2:47 pm
Posted on 6/13/22 at 2:47 pm
I had no idea inflation and markets would go to shite like they have in the last 6 months, but we refinanced our two homes and locked in 30-yr fixed rates at 2.6% for our primary home and 2.9% for our investment property late 2020 when rates had dropped.
The icing on the cake was we financed $50K for our Tesla at 2.49% last year and typically I tend to pay off our car loans in chunks when I get my yearly bonus, but for some reason I did not at the end of last year and now I am sitting here looking like a genius due to nothing but dumb luck and just making our regular monthly payments on all 3 loans for the foreseeable future given that those rates will not come back anytime soon.
The icing on the cake was we financed $50K for our Tesla at 2.49% last year and typically I tend to pay off our car loans in chunks when I get my yearly bonus, but for some reason I did not at the end of last year and now I am sitting here looking like a genius due to nothing but dumb luck and just making our regular monthly payments on all 3 loans for the foreseeable future given that those rates will not come back anytime soon.
This post was edited on 6/13/22 at 2:49 pm
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Posted on 6/13/22 at 2:52 pm to euphemus
got my 30 year mortgage at 2.5%. We love our homestead, but this definitely "locks" us in from thinking about moving!
Posted on 6/13/22 at 2:53 pm to euphemus
I was just thinking about this earlier today.
Jan 2021 refinanced home for 30-year fixed at 2.7 and in July 2021 purchased my truck for 0.9%. Didn't avoid the gas hike though
Jan 2021 refinanced home for 30-year fixed at 2.7 and in July 2021 purchased my truck for 0.9%. Didn't avoid the gas hike though
Posted on 6/13/22 at 2:54 pm to euphemus
Got a 0% on a new car in late 2019, and then refinanced the house for 2.875% in 2021. Now I just need to stay in our house for a long time, not have any more kids, and drive both of our cars into the ground to make it all worth it 
ETA: Oh yeah, also got a nice rate on a loan to expand my business. I was sweating bullets signing those papers. I'm still sweating bullets thinking of the future economic outlook and paying back the loan, but man, I'm glad we did it when we did it.
ETA: Oh yeah, also got a nice rate on a loan to expand my business. I was sweating bullets signing those papers. I'm still sweating bullets thinking of the future economic outlook and paying back the loan, but man, I'm glad we did it when we did it.
This post was edited on 6/13/22 at 2:56 pm
Posted on 6/13/22 at 2:54 pm to euphemus
Only downside of selling my condo...I will miss the 2.75% interest rate. But $100k profit was too much just to move across town. Does make my "bad" mortgage on one of my rentals at 4.99% seem great, though. Car I bought Nov. 2021 was $0 down at 0.9%. I like it.
This post was edited on 6/13/22 at 3:13 pm
Posted on 6/13/22 at 2:55 pm to euphemus
Had to give up my 3.0 mortgage for a 4.875 which sucks
But I was able to roll 2 auto loans at around 4% each into a single loan at 1%.
But I was able to roll 2 auto loans at around 4% each into a single loan at 1%.
Posted on 6/13/22 at 2:59 pm to euphemus
I’m glad I’m with a good credit union. Will need a truck loan in a few months.
Posted on 6/13/22 at 3:01 pm to euphemus
Purchased first home in 17 at 3.375%. While I could have refinanced and gotten that down quite a bit, I'm looking around and finding myself better off than most.
Posted on 6/13/22 at 3:01 pm to euphemus
House is locked in at 3.375% - refi'd too early (January 2020) and missed the bottom.
Car in February at 2.99% and car in April at 2.84%
Car in February at 2.99% and car in April at 2.84%
Posted on 6/13/22 at 3:01 pm to euphemus
2.5% mortgage but 15 instead of 30 
1.95% auto loans.
1.95% auto loans.
Posted on 6/13/22 at 3:03 pm to euphemus
Refi-ed our "forever home" in January 2021 at 2.5% for a 30 year.
Got a new vehicle in 2020 at 0.9% for 5 years.
Sitting pretty for now on the big purchases. My wife will need a new car in the next 3-4 years so hoping things get better by then
Got a new vehicle in 2020 at 0.9% for 5 years.
Sitting pretty for now on the big purchases. My wife will need a new car in the next 3-4 years so hoping things get better by then
Posted on 6/13/22 at 3:04 pm to euphemus
2.25% on my house (15 year)
0% on my new vehicle in 2021 because I paid cash for it.
0% on my new vehicle in 2021 because I paid cash for it.
Posted on 6/13/22 at 3:08 pm to euphemus
We bought our house at 4.25% 30 year back in 2017 and refi for 2.375% (no points) 15 year back towards end of 2020 with a really short breakeven period on that. No car debt, all 3 cars are paid off we have. Havent had a car note in over 2 years now I think and should keep it that way for a few more years at least.
This post was edited on 6/13/22 at 3:09 pm
Posted on 6/13/22 at 3:22 pm to euphemus
Ya, put in for a house in March 2020 and almost lost financing as COVID hit. Lined up a lender in two weeks and closed on an expensive property at 3.625% jumbo. Refinanced that to 2.95% last year. Our zip code appreciated over 100% since then (we'll see if that holds up).
This post was edited on 6/13/22 at 3:23 pm
Posted on 6/13/22 at 3:33 pm to euphemus
Yep refinanced last summer to 2.25% @ 30 years. When I built new construction in 2018 it was at the upper end of my budget. Now the payment feels relatively cheap lol.
I didn't plan for this to be forever house but good chance I will be here for a long time with that payment. When I finish the basement will probably make it much nicer than I previously planned.
I didn't plan for this to be forever house but good chance I will be here for a long time with that payment. When I finish the basement will probably make it much nicer than I previously planned.
Posted on 6/13/22 at 3:34 pm to euphemus
Got in our new home at 2.7 in August, they gave us about 4k to take the loan.
I never hit things right. I got lucky, we got alot of house and very little note.
I never hit things right. I got lucky, we got alot of house and very little note.
Posted on 6/13/22 at 3:46 pm to euphemus
I refinanced into a 15-year at 2% during the summer of 2020.
Posted on 6/13/22 at 3:58 pm to euphemus
I managed to catch about the bottom in mortgage rates but it was pretty much just luck. I refinanced our home once around 3.8% so I was a little hesitant to pay closing costs unless it was a full 1% lower. Caught a 2.375% rate during Covid and decided that was enough. Sadly this isn't our last home.
Posted on 6/13/22 at 4:08 pm to euphemus
Paid off my last vehicle note EOY 2020 with bonus money received for working through the pandemic. Happy to be debt free (except for <$5K in student loans), but probably would've come out ahead if I had just kept paying the monthly note.
OTOH, if I had "extra" money laying around back then, I would have probably put it in crypto, and I'd be down a few more thousand over the past couple of months. #FJB
OTOH, if I had "extra" money laying around back then, I would have probably put it in crypto, and I'd be down a few more thousand over the past couple of months. #FJB
Posted on 6/13/22 at 4:29 pm to euphemus
Refinanced in Dec 2020 at 2.8%. Very lucky timing
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