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Chose a 15-year fixed over a 30-year for my cash out refi and saved $400 a month in interest
Had the option between pulling $50k out on a 30-year at 6.8% or a 15-year at 5.9%. Picked the 15-year because the payment was only $180 more but the interest savings over the life were huge. Been 6 months now and the cash let me fix up my rental property's foundation. Anyone else go shorter term on a refi and regret it or love it?
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emerycarr2mo ago
Used to think the 30-year was always safer but seeing that rate difference... man that changes things. Had me second guessing my own choices honestly.
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hernandez.morgan2mo ago
Right? I've been sitting here doing math on a napkin trying to convince myself I made the right call. My husband walked in and just shook his head at me. Honestly my calculator probably thinks I'm crazy with all the refinancing scenarios I've been running. Turns out I'm good at overthinking everything except my actual mortgage choice.
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