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A comment on Simple Bank Is Closing. Parent comment

Re:Simple Bank Is Closing by renewiltord on Thursday January 07, 2021 @05:35PM (#25678626)
Yeah, even though that 10% is net tax 8.5% (vs. the full 6%) it seems like one could refinance it down in future. Still, I don't think most payment terms are flexible enough to make them an indefinite loan (go interest-only).
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Re:Simple Bank Is Closing by jsight on Thursday January 07, 2021 @05:49PM (#25678769)
Depending upon their tax situation, the loan rate may be effectively a little lower due to the tax deduction too, though. And, tbh, 6% is a really high mortgage now. Rates below 3% are common.
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Re:Simple Bank Is Closing by renewiltord on Thursday January 07, 2021 @08:59PM (#25680491)
Yeah, when I last checked for a mortgage (4 mos ago), I was offered 2.8%
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Re:Simple Bank Is Closing by 0xEFF on Friday January 08, 2021 @01:15AM (#25682058)
You can get 2.5% today with good credit. Rates just dropped again yesterday to a new all time low.
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Re:Simple Bank Is Closing by renewiltord on Friday January 08, 2021 @01:17AM (#25682068)
Mind-bending man. At this point, I should just intentionally pay PMI and sock the rest in the stock market.
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