Thursday, June 10, 2004
Refinancing
Well, we've decided to take the leap and get refinanced ... we started this before we found out we were pregnant, and part of me thought we should just let it be once we found out, but we are going ahead with it.
Our house was estimated to be revalued at about $20K more than we paid for it 5 years ago (COOL!!), so we are getting a new loan, with closing fees rolled in and an additional $5K or so for improvements (we're replacing the carpeting in our main living area with bamboo floors), and it will still be $16K less than the house is worth!! The most exciting part is that instead of the 30-year loan we had, it'll be a 15-year loan!! We could have the house paid off before Parker goes to college (if we were to stay here, which I hope we don't). It looks like it'll cost us between $150 and $200 more per month, though, which is why I'm worried.
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