Mortgage Renewal
115 words eaten alive on October 29, 2007 - Filed Under Life -
Can’t believe it’s already been 3 years since we bought our house. That means it’s renewal time and since interest rates have risen a bit, my overall payment has increased by about $100 a month. The cheapest monthly rate I could get was by renewing for a 5 year term, so that’s what I opted for. When we first bought the house we were convinced it was a better deal than renting. It was more expensive per month of course, but eventually we’ll own it. However by the time you add in property taxes and mortgage life insurance it ends up being nearly double what we used to pay renting.
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