Apr 16, 2023
2:22:18pm
2:22:18pm
My first mortgage was to buy a condo at BYU when I was still a student. I remember calling the mortgage broker twice a
day to check on the rates because we were hoping to be able to lock at 8.25% instead of 8.375%. Then one day the rates dropped and we locked thinking we just made out like bandits. I had a pretty good job for a student then and I was making almost $18/hour and working 30 hours per week.
I sold that condo when I graduated a few years later and had like $12k in equity that I used towards my first home. That was the only reason I could afford that first home.
I sold that condo when I graduated a few years later and had like $12k in equity that I used towards my first home. That was the only reason I could afford that first home.
- Bio page
- cheezedawg
- Joined
- Oct 4, 2007
- Last login
- Sep 20, 2024
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4/16/23 11:53am
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4/16/23 5:01pm
This really lacks perspective. The generation before me paid 15% interest on their mortgages, never went on vacation and
4/16/23 12:15pm
Rates were over 10% for almost 15 years. It wasn’t until the 1990s that we got single digit mortgage rates again. People
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