You may remember that our house did not appraise at the value that we needed it to for the refinancing (we'd have to come up with 19 thousand dollars).
However, there are several more options and some of them involve a promotional fixed rate of 2.65% for a 15 year loan!!! I think we cannot let this opportunity pass, even though it means we'll have to borrow 9K from somewhere (if we pay everything with credit card in the next month we'll be very close to that amount by saving all our earnings and then we can borrow a bit more on one of our ccs).
I hate to be in debt, but this type of debt is "good debt" that will save us over 100,000 in interest!!
I am just so happy this will work out in the end! Too bad this will mean that we can't afford to travel over the holidays anymore so we can save as much as possible. :(
We need to close by Dec. 26, so the refinance will be our "Christmas present." ;)
Wow! That's a great rate! Good luck on the saving.
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