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Old 01-24-2007, 04:05 PM
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taiarain taiarain is offline
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Default Years on Mortgage

How long of a mortgage did you take out? 10? 15? 20? 30? 50? We started with a 30 and refinanced to a 20 within just a couple years. What about you guys?
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Old 01-24-2007, 05:55 PM
nangel78 nangel78 is offline
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Default Re: Years on Mortgage

I have a 30 year one right now. We will probably refinance in a couple of years when the debt is down.
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Old 01-24-2007, 09:19 PM
riskey58 riskey58 is offline
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Default Re: Years on Mortgage

We had a thirty year mortgage. And we refianced once to smaller interest rates. It worked out good for us. Now it is paid off, and it feels great. So I think if your interest rates are real high you should look into refianacing.
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Old 01-25-2007, 03:38 PM
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taiarain taiarain is offline
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Default Re: Years on Mortgage

We never had a high interest rate, we just bought at the right time. Just before housing prices skyrocketed and interest rates dropped. We refinanced twice. The first time was to another 30 at a lower rate. The second was to a 20 with an even lower rate. I should put together a spreadsheet and see just what it has saved us so far and project what it will in the long run.
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Old 01-29-2007, 03:35 AM
nangel78 nangel78 is offline
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Default Re: Years on Mortgage

Our interest rate is really good. Once my car is paid off I will put some extra towards the house.
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Old 03-07-2007, 04:29 PM
sunshine sunshine is offline
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Default Re: Years on Mortgage

I've taken out a 15 year mortage and hopefully in two more twos i'll finish paying it off.
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Old 03-13-2007, 12:44 PM
fiscalphil fiscalphil is offline
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Default Re: Years on Mortgage

we originally took out a 25 years mortgage, when we remortgaged after our 5 years fixed rate ran out we used the calculators and worked out we could reduce the rest of the mortgage from 20 years to 14 years with extra repayments.

Now we have 14 years left with a 3 years fixed deal and if we do this two more times we can hopefully have our mortgage gone in 6/7 years then hopefully be debt free
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Old 03-14-2007, 12:35 AM
kconnections kconnections is offline
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Default Re: Years on Mortgage

We are looking to take out a 20 year mortgage if at all possible. I don't want to be paying forever.
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