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Reply to "People who bought a great house with low interest and "
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[quote=Anonymous]Feels great! Bought a fixer-upper 20 years ago. It was a mess. Poured a ton of work into it over the years. Spent a lot on repairs and updates. We initially bought on an 80/20 split loan with 0 down, so we paid aggressively the first few years to get rid of the 20% loan. After 7 years, rates had dropped and we had paid off a bunch of extra principle, so we were able to refinance to a 15-yr loan at 2.5% with no change to our monthly payment. Now paying on schedule because there's no reason to rush through a 2.5% loan, but there are only 2 years left on the loan. And the house is worth at least double what we paid for it. Of course, we have put a ton of time and money into it - it didn't just double on its own. But there was also a lot of luck involved in the timing. [/quote]
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