Any Opinions on Amerisave?

[maat55]

I'm currently applying for a refi through Amerisave.

My total estimated settlements charges 2485.48, this includes the appraisal.
My interest rate will be 3.37% on a 10 or 15 year note.

I can lower my current payment on a 15 year from 884.00(P&I) to 754.00(P&I) or Raise my payment from 884.00(P&I) to 1041.99(P&I) on the 10 year note, I currently have around 14 years left on my 20 year note.

My first question is if anyone has used Amerisave for a loan?

My second question is which note(10 or 15) would you choose?

My little boy side wants to take the 15 year lowering my payment which would nudge me to rejion my golf club. A possible alternative would be lowering my payment and freeing up those funds for extra investing and lowering my overall expenses in case of harder times ahead.

My inner adult says to take the 10 year forcing myself to payoff the house 4 years early.

Thoughts?

P.S. I was suprised to find out that my credit scores were 776,779,792.

[photo]

I don't have any experience with AmeriSave, sorry. I know what I would do, and that's pay off the loan in 10 years. However, that may not be what's best for you.

I was suprised to find out that my credit scores were 776,779,792.

Pleasantly or unpleasantly?

[maat55]

I don't have any experience with AmeriSave, sorry. I know what I would do, and that's pay off the loan in 10 years. However, that may not be what's best for you.



Pleasantly or unpleasantly?

Pleasantly. I was guessing around 720 based on prior information.

[jpg7n16]

15 year due to the low tax-deductible interest rate and the Forrest Gump clause: stuff happens.

You can always pay more than you're required, but you cant get away with paying less.


No experience with the company

P.S. - well done on your credit scores

[kork13]

Agreed on all fronts. The lower payment gives you flexibility. If the only difference is the time frame and payment amount (rate stays the same), I'd go with the 15 year, and plan to add extra principle payments (maybe consider continuing the same payment amount, and make it a 12-13 year payoff).

Awesome rate, btw... at least there's one good thing with all the mess of today.