Gas Shortage in San Diego

John@Outfront said:
im working on a refi of a 30 year loan that i am 7 years into.  doing a refi at 3% 15year to shave off 8 years of payments at $3k per month, thats a savings of $192k in payments.   
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This is awesome.  Nothing wrong with a free and clear home! (Other than property taxes. lol) Remember when we paid our house off it was like a huge weight off the shoulders. 

 
onanysunday said:
This is awesome.  Nothing wrong with a free and clear home! (Other than property taxes. lol) Remember when we paid our house off it was like a huge weight off the shoulders. 
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Why not just keep making additional principal payments?

 
John@Outfront said:
im working on a refi of a 30 year loan that i am 7 years into.  doing a refi at 3% 15year to shave off 8 years of payments at $3k per month, thats a savings of $192k in payments. 

Note: old payment $3k per month, new payment will be in the  $3200 range.  old interest 4.25%, new 3% possibly slightly lower 
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Just making additional payments will cut the loan...the interest saved will probably be minimal... plus if chit goes sideways thats 200 less a month you HAVE to come up with. 

 
onanysunday said:
I get your point but.... I do have a lot of buyers now priced out of the market. It is only getting worse and less and less people can afford homes.  Stupid high prices now on real estate plus inflation on goods and higher fuel prices will only make it worse. I say many people will care. We shall see.
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and I definitely get your point here too. I share the same problem but let's be real, if it continues to inflate at the going rate, we got worse things to worry about than interest rates. My guess is housing prices will taper off and have nowhere to go but down. I hear you on your buyers but there's 10 more to each one that can afford it. Believe that! I'm not one of them that's for damn sure. Just wish I knew where they were coming from LOL a move in ready house is selling for cash here in San Diego about 50% of the time! People are paying $50k above asking on the regular. So, who's getting priced out? 

 
I heard inflation is so high because bidens done such a great job with unemployment and higher wages, and gas is so high because there is alot of demand because people have so much money. At least thats what the nice red headed woman said

 
John@Outfront said:
im working on a refi of a 30 year loan that i am 7 years into.  doing a refi at 3% 15year to shave off 8 years of payments at $3k per month, thats a savings of $192k in payments. 

Note: old payment $3k per month, new payment will be in the  $3200 range.  old interest 4.25%, new 3% possibly slightly lower 
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Man if I could refi my house for a couple hundred more a month and cut my loan to a 15 year loan I would be stoked! That is awesome!

 
Chingon619 said:
Let's keep in mind 4% was also pre-pandemic and is still very low relatively speaking. 5% who cares! We've been conditioned to the pandemic rates of 1.99% ohhhh wow ok, I don't see that happening again. It was only for like 3 weeks anyway on like a 15yr loan with point paid for blah blah blah. Just do what's best for you. I laugh at people when they freak out about 4%. LOL 
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First house in '86 was at 10% - and that was great compared to the (older) neighbors who had purchased earlier at 13-14%!

 
Still under $4 here in Utah - but creeping up daily ($3.60 - $3.80 here in town yesterday).

BF stopped at Smiths to use the $.20 fuel rewards yesterday.

Regular was $3.69 - and jumped to $3.79 on the sign about 30 seconds after he started pumping. 

Diesel - $4.18 - $4.88

Both our diesels sit 90% of the time right now (F350 and a Jeep Liberty). We run them periodically as "maintenance" lol

 
Big_Daddy_Jp said:
Man if I could refi my house for a couple hundred more a month and cut my loan to a 15 year loan I would be stoked! That is awesome!
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Rates supposed to go up a few times this year starting in 1 week ( march 15th) not much time left

 
John@Outfront said:
im working on a refi of a 30 year loan that i am 7 years into.  doing a refi at 3% 15year to shave off 8 years of payments at $3k per month, thats a savings of $192k in payments. 

Note: old payment $3k per month, new payment will be in the  $3200 range.  old interest 4.25%, new 3% possibly slightly lower 
Click to expand...
I did pretty much the same thing last June. I went from a 30 to 20 year and took 6 years off. Like you, even with the new lower interest rate, my payment was going to go up a bit.
 

So we calculated what the payoff would be to keep our payment the same and I put that amount to paying down the loan. But another cool deal was my broker was able to get a lender to buy our loan and pay the fees, so we got a $5K credit, so the loan cost us nothing to refi, and we actually made a few hundred dollars. Lol! So the $23k I put down long term was like only putting $18K out of pocket as I did not having any fees or refi costs added to the loan. 
 

Our goal is to make a 13th payment a year directly to principle, and doing that should knock off another few years on the loan. We are looking at the long term. If your not planning on staying then all this effort probably is not worth it, and you could invest the money and make more. 

 
Paid $3.99 today for flex fuel. Wasn't long ago it was $1.99. One gallon will get me 3 miles in the dunes.  :igor:

 
My wife works for the govt  in san diego. They have been told to fill up tank at the end of every day no matter what and dont let tank below 3/4

 
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