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monsoon

If you own property in Mecklenburg

How are you paying for your property in Mecklenburg?  

33 members have voted

  1. 1. How are you paying for your property in Mecklenburg?

    • Traditional 30 year fixed loan
      12
    • Traditional 15 year fixed loan
      7
    • Adjustable Mortgage
      8
    • Combination of short term and long term fixed.
      1
    • Balloon Mortgage
      0
    • Other creative financing
      0
    • Own outright, no mortgage
      4


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Bought my first home this past spring. I was inexperienced and ended up getting an arm loan for 80% of my mortgage and a fixed 30 for the other 20%. Im starting to regret not doing the full fixed, but I thought the payments were going to be too much for me. Turns out I could've easily afforded it. :(

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Bought my first home this past spring.  I was inexperienced and ended up getting an arm loan for 80% of my mortgage and a fixed 30 for the other 20%.  Im starting to regret not doing the full fixed, but I thought the payments were going to be too much for me.  Turns out I could've easily afforded it. :(

<{POST_SNAPBACK}>

maybe you could just do a re-fi Mobuchu. Rates are still really low. Here is the rate on the 30 year today. This also bodes well for condo sales uptown. YEAH!!! :)

Today's Rates

Mtg Loan Rate APR

30-yr Fixed 5.36% 5.52%

15-yr Fixed 4.96% 5.23%

5/1 ARM 4.89% 6.03

As you can see there is still very cheap money out there.

B)

A2

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maybe you could just do a re-fi Mobuchu. Rates are still really low. Here is the rate on the 30 year today. This also bodes well for condo sales uptown. YEAH!!! :)

Today's Rates

Mtg    Loan  Rate    APR

30-yr Fixed  5.36%    5.52%

15-yr Fixed  4.96%    5.23%

5/1    ARM  4.89%    6.03

As you can see there is still very cheap money out there.

B)

A2

<{POST_SNAPBACK}>

Oh I plan on it, just hate to go through the process again :wacko:

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Trust me, I understand. I just got finished selling my house. Paperwork, paperwork, paperwork. BUT, it might just save you tons of $$$ in the long run. Rates won't stay low forever, and that ARM might start to squeeze a little tighter on the ol' pocketbook if you know what I mean. Wish you the best Mobuchu !

A2

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Do you guys think house and land prices well increase the way the have here in Vegas. I was a potential buyer until I realized I just couldn't fit the payment in to my budget. When I relocate I will end up in G-boro or Charlotte. This is just speculation but is there a possibility that an increase of 50% is probable. If so that would suck because I really want to move to Charlotte.

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Do you guys think house and land prices well increase the way the have here in Vegas. I was a potential buyer until I realized I just couldn't fit the payment in to my budget. When I relocate I will end up in G-boro or Charlotte. This is just speculation but is there a possibility that an increase of 50% is probable. If so that would suck because I really want to move to Charlotte.

<{POST_SNAPBACK}>

never will the appreciation here be like vegas. the migration to vegas is of historic proportions, and it is a world famous destination. there is also greater scarcity of buildable land and water rights.

50% per year is not really likely here, and if you find the rare gem that might do that, it is certainly not sustainable if you are thinking of it in investment terms (it isn't sustainable in vegas either, i don't believe)?

btw, i did a 30 year fixed 4 years ago and have been (and from the sight of a2's posted rates still am...) a complete dumba$$ and not refi'ed. of course, i did do something not-so-dumba$$ by buying low in first ward, with the idea of helping the neighborhood turnaround and then selling high. I take partial credit for the uptown housing boom :).

if i could do anything differently, it would have been to buy slightly above what i perceived my means were at the time. we need/want a little more space, but do not have even the slightest inclination to go thru the hassle of selling and buying and moving, especially since we want to stay uptown for a while.

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Trust me, I understand. I just got finished selling my house. Paperwork, paperwork, paperwork. BUT, it might just save you tons of $$$ in the long run. Rates won't stay low forever, and that ARM might start to squeeze a little tighter on the ol' pocketbook if you know what I mean. Wish you the best Mobuchu !

A2

<{POST_SNAPBACK}>

I agree.... refinance Mobuchu... Call Deleted

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