Just curious......... what % interest do you pay on your mortgage?

6.375

It sucks.

Hmmmmmm starting to think you and I are the only ones on here paying off a home. I don't even know how much mine is at the moment as the bank has changed it so often lately I just can't keep up. The last statement it was at 6.9% after some cuts but I think it's been reduced then raised again since then.

Aussies tend to think we have higher interest rates than other countries & that's why I was asking.

fixed 5.75%

4.325, 15 year fixed

How much do you owe?

4.35 fixed 20 yrs

Too much.

3

my bad 2.5

Wow. We can't even fix ours for longer than 15 years in this country as no bank offers it. To get a fixed 15 year rate here you would pay almost 1.5 percent more than the current variable rate so people here don't tend to do it. Interest rates went to as high as 19% a couple of decades ago. We also can't get long term leases like people in some countries get. It's usually a year or two and so many of my friends have been turfed out after a year in a new rental as the landlord has sold it & the new owners want to move in.

5.74% floating, $130k

There is talk of Japanese banks wanting to get a piece of the Australian mortgage market by offering low rate home loans. They will get a huge amount of business if they do come here as everyone is sick of the banks retrenching staff & moving jobs offshore.

4%, 30 year fixed

conventional, fixed, 5.5%, 30 year

5.5% 30 year fixed, FHA. $152k originally

0%. I purchased my house with cash.

Why buy something with a loan and pay interest?

Same goes for our cars.

If you can afford the house payment,save the money and just buy one outright that you can afford.

Or....live forever in debt.

Simple choice really.

Fixed 7.85% for 30 years

11% and the longest we can fix it is for 2 years.

ahhh aint that nice,just get a sugar daddy and dont worry bout it.

5% fixed, 30 years.

one question where do we live for free to save that house payment each month.most of us have to pay rent or lease or whatever.not like we can save a house payment and make a rent payment to.well unless we can live in mommy's basement till we are 40 rent free.
its easy to pay cash if you have money or no expenses.

5.5 30 yr fixed va

Locked in at 7% for the next 23 years.

you know what's creepy with the word "mortgage", in french "mort" means dead/death...

everytime i see this word here, i'm just like

You're right: "Mortgage" = death bond/agreement ...

amirite hey

Live below your means.You can afford $1000.00 a month in rent,then find a place for $500.00.Of course by design this is getting much harder to do.Rents will only go up as less and less people can even qualify to get a mortgage loan.

It took my wife and I 5 years to save enough to buy our house.Saving 100% of her income,and as much as mine as possible.It was tough,but I do not regret it at all now.Solo it would have been even harder and taken longer for sure.It can be done though.

We are not and where not rich.Hell we probably do not even fall into the middle class(Last year we made 52k combined).But because we have 0 debt we live a pretty care free life at this point.

Your housing must be cheaper than ours. To buy even a small, basic house on the outskirts of any city here you would need to save 60K per year which is more than your combined income. Add another 15K per year for rent & thousand upon thousand for food, utilities etc etc & you get the picture.

My above post is clearly true. It was in the media today that the city I live in is 50% more expensive to live in than New York. A decade ago it was around 25% less expensive to live here than New York.

That's nuts. Ours is 30 years fixed at 5.75%

As for the person who says to only buy what you can afford.. that is a great strategy for cars and regular items

but a home.. lol my only options were pay in rent what I do in a mortgage, or pay the mortgage.

At least with one I end up with something

It would likely take the same amount of time for me to come up with the cash to pay for one coupled with rent.