Bank ordered us a stupid high amount to loan. We thought it was stupid high and used just half of it. In do happy er did so.
Sold high, bought low. New house went up 150k in 10 months. Refinanced at 2.7 and locked it in. It’s our forever home so I’m feeling pretty good about it. We took the profit from the last house and paid off all our debt and invested the rest into the new place.
This is to the letter what we did! Congratulations!
Stole the place.
Great rate. Glad I bought when I did.
Bought my first home right at the end of low interest rates. I wasn’t planning on staying but I can’t afford to move now.
Any reason why you can’t rent out your current home and rent something else where you want to move to?
That way you could keep building equity with your low interest rates and sell when it makes more sense.
I know that requires being a landlord, but the current market also seems to require some creativity.
Yeah just to refinance my current mortgage with the current interest rates would raise my monthly expenses the cost of renting an apartment.
Bought a fixer upper in June 2020 from a couple way in over their head. Zillow’s estimate puts me up 38% from my purchase but with everything Ive added/built/fixed, I think I could double the price if I wanted to sell it- cool house in a now popular neighborhood. Doing well, I guess.
I sold my house in a rural area at the end of 2019 and then signed a contract to buy my condo in the middle of a big city right before the covid quarantine started. I think I would have been significantly better off if I had waited six months to do both those things, but such is life. At least I have my low interest rate…
We sold our rural starter home in Dec 2020 and made a decent profit, which we used to move back to the city in June 2021. We definitely overpaid on the purchase price (not a lot of choices in our housing market), but our rate is good and the payment is doable, so I think it was a good decision.
Wife and I bought Nov 2021. Locked in at 3.25%. Bought a good house in a decent neighborhood. Feel great about it.
I think I closed in December 2019
My house is literally one of a kind. On the national historic registry and also recognized by the city. Two cute bronze plaques attached to the front near the door. It’s a Tutor Revival that has been kept in its original state almost religiously.
It’s my favorite house I have ever seen so I’m lucky. Looking at it is just awe inspiring… It’s actually awesome
It sounds awesome but I would personally hate living in a home like that as you’re not allowed to do anything to it and any repairs have to be done in a specific (and more expensive) way. It’s like living in an HOA on steroids.
That’s not really the case. The street view is what is supposed to stay the same. But it isn’t really anything binding.
Lucky. Still hoping interest rates inflect by 2025.
Great I guess. No mortgage involved, so I’m thrilled that I found my happy place.
Relieved, honestly. I feel terrible for my friends that are still in the hunt
Bought in Dec of 2020. I guess we’re never moving…
I know quite a few people in the same boat as you who have rented out their home with a low-interest mortgage and rent something else where they needed to go until it makes more sense to jump back in the market.
I think this a dilemma many, if not most, homeowners will face down the road. What to do with that mortgage from 2020-21.
Bought in May 2020. Same boat bud.
I bought in Feb 2022 and holy shit did I sneak in at the end.
