TONS of interest saved!!!

[vsimeone]

I know my Budget Board friends will appreciate my excitement that we just finished closing on our home re-finance tonight!!! We dropped our interest rate considerably and took our morgage from the 22 years that we owed down to 15!!!

It ultimately made our monthly payment go up a little but it was well worth it to save a HUGE chunk of interest!!!

 

[disneybound31]

We did this too, last year...I estimated we will save almost 60,000 because if that refi. And our mortgage is shrinking like crazy each month! It's great. How much do you estimate you will save?

 

[vsimeone]

We will actually save about $130,000 so we are very happy to be able to get this closed today!

The ultimate goal is to pay it off in less than the 15 years but we have a DD graduating from college and a DS graduating from HS (heading TO college) in May. We're trying to help with college costs as much as possible so we will probably be making minimum payments for a few years here

 

[cm8]

Congratulations!!!!!!!! WTG!!!!!