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Interest rates
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Boone & Crockett
Posted 7/30/2020 08:48 (#8404487 - in reply to #8404479)
Subject: RE: Interest rates

thunderhut - 7/30/2020 08:43

It’s a 30 year loan. Rate fixed first 7. Then after 7 fixes for last 23. Loan is thru farm credit. I could redo it but if rates aren’t going to go crazy I’ll wait till next summer and let the loan lower it’s own rate.
Ask them for a variable quote. Should be at least 25% less than the fixed rate, then keep making the same payments as before. As soon as rates move up a 1/4%, fix it. I enjoyed a variable rate at 1 1/4 under prime for 7 years the rate never wiggled. My net rate was 2%. Paid down a lot of principle in that timeframe.

Edited by Boone & Crockett 7/30/2020 08:48
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