Reply to People who bought a great house with low interest and

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]18 years ago I bought a starter home at 6% interest but it doubled in value when I sold it 10 years later. I used the proceeds to pay off all of our student loans and put a big down payment on another house in the suburbs. [b]I got a 2.875% interest rate for 15 years [u]and have been paying extra [/u]so I’m almost done with my mortgage. [/b]Somehow I’m a lowly federal employee sitting on a $1.8 million house in Chevy Chase nearly fully paid off. It feels great, and I’m sure no one knows when I take the metro downtown with my brown bag lunch like the average schmo. Lots of luck.[/quote]

It troubles me that our federal employees have so little financial sense.  [/quote]

NP. What are you referring to? That they could have kept the % for 15 (or even have gone for 30) and invested the extra payment money in the markets to make more?

If so, not everyone is comfortable investing in stocks and/or bonds. I think he/she has done great.[/quote]

I think PP was referring to the foolishness of paying extra on a 2.875% mortgage.[/quote]

Is it foolish to pay extra on a 3% mortgage?

At what percentage is it not foolish?[/quote]

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