Quote Originally Posted by Sawin View Post
How in the world? I want a 1.25% loan and $406 mortgage.
At the time I bought the house, I was making 10/hr and really could barely afford it. This was right about the time they passed the "Making Home Affordable Act." I applied for the refi through Chase under the program. It took 9 months, and I HAD to miss 90days of payments. That was the bummer, hosing my credit on purpose.

When all was said and done, they wiped my late fees, and refi'd me at a 30yr Fixed at 1.25. Shortly after that, I found permanent employment at a substantial pay increase.

There are a bunch of rules about buying secondary property, renting this one, etc, but I don't plan on moving for a while, so it's all good.