Quote:
Originally Posted by Like2Plan
Our first loan was a 30 year loan (this was back in the 1980's when the interest rates were terrible--we paid close to 10% interest). It was a no-brainer to go to a 15 yr note when the interest rates came down and we refinanced. The payments were lower AND we shortened the length of our loan. Our house is paid off now.
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This is exactly where we are, except my husband bought in about '92. He bought with a 30, and then went to 15 when he was making more money and interest rates were down. He put a little extra on the payment every month, and paid the house off shortly before we were married.