Are you switching to a 15 year fixed mortgage?

If not, can you pay additional principle to have it come off the top? I could do that with my current house, but the mortgage I had in my last house (in Miami) wouldn't allow me to reduce my principle in that manner.

In response to this post by ElbertoHokie

Posted: 03/05/2020 at 10:10AM

Well I'm refinancing. 4.5% to 3.25%. No out of pocket cost at the end -- ElbertoHokie 03/05/2020 09:55AM

What is this “mortgage” you speak of? ** -- BobG 03/05/2020 11:49AM

If you aren't locked yet check with Sebonic. I locked at 3%. -- MilwaukeeHokie 03/05/2020 10:16AM

I'm looking to refi into a 15-yr fixed. Going from 4.375 to 2.875 -- VTENGR 03/05/2020 10:14AM

What was cost overall ie what was added to principal to get this done? -- VT Pez4Life 03/05/2020 10:02AM

Nothing. My out of pocket cost is going to be about $1500, but I'm -- ElbertoHokie 03/05/2020 10:04AM

Are you switching to a 15 year fixed mortgage? -- EDGEMAN 03/05/2020 10:10AM

I was more focused on getting my payment down at this point. -- ElbertoHokie 03/05/2020 10:12AM

Question: To rent, do you have to buy more home insurance than usual? -- WestyHokie 03/05/2020 11:36AM

Probably all the above. I know that the county requires an inspection and -- ElbertoHokie 03/05/2020 12:10PM

Are you switching to a 15 year fixed mortgage?

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