- $126 for opening a checking account and direct depositing into it.
- $76 for opening a Sharebuilder account.
- $76 for opening an IRA.
- $76 for referring 2 friends ;) (Call / email me if you want a referral and I will split the bonus with you)
- $1776 off closing costs.
I decided to apply for a 5 year ARM @ 3.125%. Unfortunately, our house probably won't appraise for enough to finance the whole amount anymore, plus ING required 75% loan to value, but we do have some extra cash in the bank at the moment so it might make sense. Our payments would go from $2200 a month to $1700 a month, which would be really nice with Jen probably not working this year.
And who knows what it is going to be like in 5 years, worst case scenario interest rate raises to 9.125% after 8 years for a payment of around $3000. So actually that should be doable as well (in 8 years).
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