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re: Anybody get extremely lucky with mortage and auto financing in the last two years or so?
Posted on 6/14/22 at 2:03 pm to kywildcatfanone
Posted on 6/14/22 at 2:03 pm to kywildcatfanone
you only look at it as getting lucky if your not participating in the marketplace. Wash
0
Posted on 6/14/22 at 2:22 pm to euphemus
Rub it in, you bastards. After owning a home for 15 years, I sold it due to personal reasons and have been renting the last 5 years with plans to purchase a new home in Houston in 2022-23. So, I have horrible timing, not experiencing the property value run up and now rates are rising each month. My timing has been grand. Simply grand.
This post was edited on 6/16/22 at 12:49 am
Posted on 6/14/22 at 2:55 pm to euphemus
2.5 on mortgage last Summer.
#blessed
#blessed
Posted on 6/14/22 at 3:07 pm to euphemus
Bought a 2019 gmc fully loaded right before covid hit for 41k 5 years financing on 26k. 4% interest
Bought a house a year ago. 3,000 sq ft from a 95 yr old lady, 139k. In great shape, built in 1940. No structural issues, 5 bedroom, 3 bath. Had to redo the yard and built a screened in porch in place of an old wooden deck that was weathered. Paid for the house in full. No realtor, wired her the money and attorneys had us sign the papers
Bought a house a year ago. 3,000 sq ft from a 95 yr old lady, 139k. In great shape, built in 1940. No structural issues, 5 bedroom, 3 bath. Had to redo the yard and built a screened in porch in place of an old wooden deck that was weathered. Paid for the house in full. No realtor, wired her the money and attorneys had us sign the papers
Posted on 6/14/22 at 3:31 pm to euphemus
got my truck for 0.9% in feb.
Posted on 6/14/22 at 3:33 pm to euphemus
we did a 15 year for about 2.3%
we're trying to have it paid off in about 10-12 years...tired of being a slave to the lender...
we're trying to have it paid off in about 10-12 years...tired of being a slave to the lender...
Posted on 6/14/22 at 4:37 pm to euphemus
There's alot of 2%ers in here, but this one is gonna be hard to beat.
Wife and I were looking for a home. We put a trailer on family land, and I didn't want to build with building materials way up. Late January my parents came to us right when were putting in offers on other houses. The asked us if we'd swap houses. We buy their home and let them move into the trailer for a year or 2. Parents have a beautiful home and would be 95% of folks forever home. I didn't know if they were serious, but I called the lender and asked to lock me in a rate. Rates were one the quick rise and we got locked in that day at 3.25%. Well, my parents were serious and a week later decided to pull the trigger. The week they decided to sign papers, rates had jumped up to 4.3%ish. We got in and closed just in time before our rate lock expired. The timing and price my parents gave us, saved us many many thousands.
Wife and I were looking for a home. We put a trailer on family land, and I didn't want to build with building materials way up. Late January my parents came to us right when were putting in offers on other houses. The asked us if we'd swap houses. We buy their home and let them move into the trailer for a year or 2. Parents have a beautiful home and would be 95% of folks forever home. I didn't know if they were serious, but I called the lender and asked to lock me in a rate. Rates were one the quick rise and we got locked in that day at 3.25%. Well, my parents were serious and a week later decided to pull the trigger. The week they decided to sign papers, rates had jumped up to 4.3%ish. We got in and closed just in time before our rate lock expired. The timing and price my parents gave us, saved us many many thousands.
Posted on 6/14/22 at 5:22 pm to Athletix
The Good: Closed a large (max) one time close construction loan on Jan 31st at 2.6%. Could not afford the project if I had to get loan today.
The Bad: 10 year fixed rate with 30 year amortization, rate floats after year ten.
Also Bad: Paid max price for lot and building material costs are crazy high (thankfully lumber falling as we start framing soon)
The Bad: 10 year fixed rate with 30 year amortization, rate floats after year ten.
Also Bad: Paid max price for lot and building material costs are crazy high (thankfully lumber falling as we start framing soon)
Posted on 6/14/22 at 6:06 pm to euphemus
Refinanced our home in March of 2020 at a 15-yr fixed rate at 2.5%. Had to give it up this year when we moved out of New Orleans for the greener pastures of Metairie. Got 30-yr fixed at 3.89% about a week before rates starting going up again.
Posted on 6/14/22 at 7:00 pm to Athletix
So your parents are moving in with you in one or two years. You just got played.
Posted on 6/14/22 at 7:09 pm to euphemus
Selling house now close next month. Caught good selling market but will be hit with interest rate spike on new buy.
Bought a returned leased vehicle 18 months ago was valued at $28k now KBB at $32k. Financed at 2.54%. Checked today only $15k left on payoff.
Bought a returned leased vehicle 18 months ago was valued at $28k now KBB at $32k. Financed at 2.54%. Checked today only $15k left on payoff.
Posted on 6/14/22 at 10:55 pm to euphemus
no
Posted on 6/14/22 at 11:11 pm to Fox McCloud
quote:
So your parents are moving in with you in one or two years. You just got played.
Parents are high earners in their late 40s and early 50s. They wanted to downsize with all the kids out the house, and the house/land was gonna have to stay in the family. I was basically their only option if they wanted to downsize. They keep their grand baby close on family land and get to build their new downsized forever home. No pool upkeep or extra sqftage to keep up with. It really worked out great for both of us.
They moved into the trailer while they prep to build for cash. They'll probably be in the trailer for another 1.5 years.
Posted on 6/15/22 at 5:38 pm to Athletix
Bought a new car in February. 1.9% through government credit union.
Posted on 6/15/22 at 10:00 pm to euphemus
quote:
get extremely lucky with mortage and auto financing
We bought a home in 2009 for 100k at 6.35%. Large at 2500 square feet but 70 years old at the time and not updated.
During pandemic we started fixing up a few things and started debating fixing it all up or moving to the burbs. We were at 69k on the mortgage. We did a remodel refinance and bumped our mortgage to $240k at 3%. Mortgage went from $800 to $1400. House went from privately appraised at $175k before remodel to $350k after. For some reason because of zoning and my CAD being idiots, my property taxes are still under 100k while comparable houses a block away are $300-400k.
Tldr; we remodeled/refinanced an 80 year old house in 2020 and have a mortgage and property taxes that are 1/3 the appraised value and interest rates today.
This post was edited on 6/15/22 at 10:05 pm
Posted on 6/18/22 at 8:21 am to euphemus
Looking back, I feel like a genius but I just got lucky. Got my wife's car in may 2020 for 0.9%, needed a van because we had our third kid a few months prior. Sold our house and bought a larger one just before home prices went nuts. I sold my house in a few days and listed it myself to save commission and only allowed 1.5% to the buyer agent. Then got 2.75% on the new home may 2021.
Glad I got to take advantage before everything went to shite.
Glad I got to take advantage before everything went to shite.
Posted on 6/18/22 at 10:36 pm to euphemus
Got 2.75% Fixed (15 year, no pernts) in mid ‘21 on a vacation property.
We will not rent it out, that’s not our cup of tea.
It’s appreciated about 40% since then.
We will not rent it out, that’s not our cup of tea.
It’s appreciated about 40% since then.
Posted on 6/20/22 at 12:12 am to euphemus
Yep. Refi’d house in Nov 20 at 2.875% over 20, financed wife’s car Sept 20 at 1.9%, and financed my truck at 0% at the end of last year.
I’m not a big fan of holding debt, but the interest rates on the cars were tough to beat and my pay at work has been steadily climbing 10% each year so I figured what the hell.
I’m not a big fan of holding debt, but the interest rates on the cars were tough to beat and my pay at work has been steadily climbing 10% each year so I figured what the hell.
Posted on 6/20/22 at 12:14 pm to euphemus
I got stupid lucky on both.
Posted on 6/20/22 at 12:16 pm to euphemus
Just by dumb luck. We refinanced at 2.875 and bought two new vehicles at end of 2020 and beginning of
2021.
2021.
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