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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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I purposefully made sure the bank I got a loan with had no pre-payment penalty. After I get enough equity (and I overpay every month), and interest rates are as low as when I got my loan, I'll refinance with my credit union (I used a federal first-time buyer program, which my CU wouldn't touch).
I'm on a 30 year. I'm paying down principal like mad to get rid of PMI ASAP.
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Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris
"There is freedom in risk, just as there is oppression in security."
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