https://alinuxuser.com/tags/debt/ Recent content in Debt on alinuxuser https://alinuxuser.com/%3Clink%20or%20path%20of%20image%20for%20opengraph,%20twitter-cards%3E https://alinuxuser.com/%3Clink%20or%20path%20of%20image%20for%20opengraph,%20twitter-cards%3E Hugo en-us Tue, 08 Mar 2016 22:12:00 -0600 https://alinuxuser.com/posts/2016/03/mortgagepayoff/ Tue, 08 Mar 2016 22:12:00 -0600 https://alinuxuser.com/posts/2016/03/mortgagepayoff/ <p>I am in a very fortunate situation of having enough cash reserves to pay off the house this instant. Of course, if I were to do that, I will have very little cash on hand. I will still not be penniless, because I still have my very modest retirement fund, but that’s not something I can rely on for my immediate needs.</p> <p>I currently owe $132,504.02 on the house to Wells Fargo, at the rate of 3% for a 15 year term. All things considered, I got an extremely good deal. It would have been better had I purchased a house in the middle of 2015, when the interest rates were as low as 2.875% for a 15 year term, but the house I ended up purchasing wasn’t on the market at the time. I have absolutely no regrets about waiting, because I found the perfect house.</p>