Re-Financing


Derek and I are closing on a re-finance of our house tonight! We're so glad this re-finance is finally going through. It's been an ordeal to finally get to this closing.

This will be such a good thing, because we will get rid of the one hundred and fifty dollars we are paying each month in primary mortgage insurance. It will also decrease our monthly payments, and we can put the difference toward the principle, instead of so much of it going toward interest.

It will also be good for the future, because when we have kids there will be less of a monthly payment on the house - we'll still put any extra we have toward the principle, but this lower mortgage payment might also make it easier for me to be able to stay home with our babies (I really want to be a stay-at-home mom).

Just thought I'd share!

P.S. The new sponge is still smelling fresh as a daisy! So far so good.
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Brittney Galloway said...

Congratulations! It must be so nice to have a place of your own!

Jessica said...

Congrats...sounds like this was a great step for you guys!

AmyK said...

I really don't know what much of that meant (I have NO understanding at all of mortgages and house payments and refinancing and stuff; we're renters), but it sounds like good news, so yay!

And glad your sponge doesn't stink yet ;)

Anonymous said...

congrats! it sounded a little confusing but yay to having smaller payments!

Kristin said...

Boy do I loathe PMI! Congrats!

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