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Updated over 9 years ago on . Most recent reply

Tom Smith's profile image
Tom Smith's profile image
Tom Smith
  • Bookkeeper
  • from Hooksett NH
  • Member since Aug 24, 2014
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Tom Smith's profile image
Tom Smith's profile image
Tom Smith
  • Bookkeeper
  • from Hooksett NH
  • Member since Aug 24, 2014
Connect
Tom Smith
  • Bookkeeper
  • Hooksett NH
15
Votes |
41
Posts
Real Estate Deal Analysis & Advice

My First Refinance

Tom Smith
  • Bookkeeper
  • Hooksett NH
Posted

I bought a duplex as my first home with 5% down! My wife and I live in the top unit and we rent out the bottom unit. Thanks to appreciation we reached 80% LTV in less then 2 years! (without making additional payments).

We refinanced out of our rate of 5.124% (state program) into a rate of 4.6%.  Cost of refinance was $0 because we chose an option with a slightly higher rate.

Total savings:  $90 a month!

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Michael Johnson's profile image
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Michael Johnson
  • Investor
  • from San Diego, CA
  • Member since Jan 28, 2015
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Michael Johnson's profile image
Michael Johnson's profile image
Michael Johnson
  • Investor
  • from San Diego, CA
  • Member since Jan 28, 2015
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Michael Johnson
  • Investor
  • San Diego, CA
42
Votes |
77
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Michael Johnson
  • Investor
  • San Diego, CA
Replied

Good news there! it's always nice to read these feel good stories; helps keep me motivated!

Congrats to you good sir!

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