InvestorsHub Logo

The Grabber

04/09/18 4:27 PM

#42876 RE: ls7550 #42870

Ours was a 30 year fixed, non-assumable.

Everything's changed since then.

Currently (different house) we're at 3.75 fixed, assumable.

Even though the principal on this house is more than twice the first one, the principal and interest is less than what it was back then on the first house.

BTW: We refinanced that first house down to around 10% after 3 years in 1987.

2 years later we bought the house we're in now, kept the first one to rent out and wrote off that high interest as an expense.

Did that for 5 years, then sold it as the market came back for 25% more than we paid originally.