NEMO | Ks-notill - 1/5/2017 08:58
$400,000 land note, 20 year, locked in till 1/2021 at 4.29% . After that it is adjustable every 5 years at 3.25% over the "weekly average yield on US treasury securities adjusted to a constant maturity of 5 years". I'm making my third payment this week, so 17 more years to go.
Operating note, 150,000 at 4.5%
This is at my local bank. Thanks
I would go somewhere immediately that will lock in the 20 year note for its entirety. Do you want to wake up in 2021 and see the 4.29% turned into 7-8-9 or 12% interest?
Maybe not likely, but no guarantee either. The main thing preached from the 80's is to lock in your interest rate for the life of the note. |
how do my interest rates compare?
