The Money Mustache Community

General Discussion => Share Your Badassity => Topic started by: Hula Hoop on September 28, 2017, 04:24:09 PM

Title: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: Hula Hoop on September 28, 2017, 04:24:09 PM
We signed all the papers at the bank this morning to refinance the mortgage to 1.75% fixed for 20 years.  We're in Europe and I think interest rates are even lower here than in the US. 

Now we're thinking of buying a small apartment as an investment property.  These interest rates can't last.
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: secondcor521 on September 28, 2017, 04:35:38 PM
Yup.  I'm no longer in the market for a mortgage, but I think a 20 year rate here in the US is about 3.5% or so.

(Congratulations!)
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: lexde on September 28, 2017, 05:27:25 PM
Congrats!!


Sent from my iPhone using Tapatalk
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: honeybbq on September 29, 2017, 11:27:01 AM
Amazing. What a great rate!

 I've been toying with refi-ing here but can't find any rates that are better than what I have (3.625%).

I foolishly assumed that I could get a regular 30 year fixed for less than the 30 year fixed Jumbo I got 5 years ago, but I can't seem to find anything. Of course, the rate I did get was totally off the books and only when I pitted two companies against each other for the best deal.
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: TomTX on September 29, 2017, 07:32:25 PM
We signed all the papers at the bank this morning to refinance the mortgage to 1.75% fixed for 20 years.  We're in Europe and I think interest rates are even lower here than in the US. 

Now we're thinking of buying a small apartment as an investment property.  These interest rates can't last.

That's great! I was hoping you were in the US so that I could try to wrangle that deal! Even though I'm at 2.5%, I keep an eye out for something better.
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: bigalsmith101 on September 30, 2017, 10:40:50 AM
Amazing. What a great rate!
 I've been toying with refi-ing here but can't find any rates that are better than what I have (3.625%).

My wife and I just locked in a 30yr 3.625% rate, and consider it a GREAT rate across the board compared to what is currently being offered.
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: Hula Hoop on September 30, 2017, 02:49:18 PM
It seems like crazy low interest rates is one of the few advantages of living in Europe rather than the US.  Also, where I live food and alcohol are a cheaper than in the US.  But other things like cars, clothes, gas, income taxes etc. cost a lot more here than in the US.  But at least we can enjoy a glass of cheap wine while paying our taxes.
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: bigalsmith101 on October 02, 2017, 10:38:07 PM
It seems like crazy low interest rates is one of the few advantages of living in Europe rather than the US.  Also, where I live food and alcohol are a cheaper than in the US.  But other things like cars, clothes, gas, income taxes etc. cost a lot more here than in the US.  But at least we can enjoy a glass of cheap wine while paying our taxes.

I can buy a tasty bottle of wine for a few bucks... And food costs me and my wife $250/mo. Pretty cheap :)
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: honeybbq on October 04, 2017, 01:10:30 PM
Amazing. What a great rate!
 I've been toying with refi-ing here but can't find any rates that are better than what I have (3.625%).

My wife and I just locked in a 30yr 3.625% rate, and consider it a GREAT rate across the board compared to what is currently being offered.

Sounds like I should give up my search! :)
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: Mrok on October 07, 2017, 10:41:08 AM
What country do you live in, Hula Hoop?

I'm in Germany and want to refinance my US student loans. I have a bit of an inheritance windfall and thinking of something like a Pledged Asset line of credit /secured loan. I wonder if there is a cheap way to do this here in Germany. Or could I perhaps buy a flat and take a second mortgage against it? I'd love to get a rate like yours...

Thanks for thoughts!
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: Hula Hoop on October 07, 2017, 11:15:42 AM
Unfortunately, I doubt you could refinance your US student loans at whatever the mortgage rate is in Germany. Personal loans seem to have higher rates. However buying an apartment wherever you live in Germany, rather than renting, would make a lot of sense right now- depending on prices of course.  I've been telling all my local friends who are renting and who have some savings to go ahead and buy as these mortgage rates are too good to last.

If you want to check out mortgage rates in Germany, do you have a local website that compares rates?  Just google whatever the words are for 'mortage comparison' in German and it should pop up. 
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: Mrok on October 07, 2017, 11:39:21 AM
Thanks, Hula Hoop!

I was thinking of something like paying cash for a flat and then taking out HELOC against paid off flat that I would use to pay out all US loans (sorry, maybe that was already clear). I'm googling around to see about rates-- thanks for drawing attention to current rates!
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: Hula Hoop on October 08, 2017, 02:03:37 AM
I've never heard of HELOC here where I live in Europe.  Why not just buy a flat with a mortgage rather than cash and use the cash to pay off your US student loans?

You're welcome.  I think a lot of people don't pay attention to interest rates so I've been telling everyone.
Title: Re: Just refinanced the mortgage to 1.75% 20 year fixed rate
Post by: havregryn on October 08, 2017, 03:38:14 AM
Unfortunately, I doubt you could refinance your US student loans at whatever the mortgage rate is in Germany. Personal loans seem to have higher rates.

They may still be very low, our bank offers personal loans with 2% interest rate (in Luxembourg). In a lot of countries also this interest is tax deductible. Worth looking into.