Tractor Talk - Off Topic Area |
interest rates.
[ Expand ] [ View Follow Ups ] [ Post Followup ] [ Return to Forum ]
Posted by Slofr8 on May 10, 2004 at 18:14:03 from (12.149.234.226):
Hi everyone, I thought I'd post here and see what I get. We have about 55 acres that we intend to build on. After looking at the price of materials lately we looked into prefabs. It seems they are way more expensive then they used to be. Selling the land is not an option for me. We don't owe on the house we're in now and decided I could have a foundation done, well and sewer done, and frame the house this summer and I would work on it as time and money permits. Went to see about financing. Figured 75,000 plus money saved plus equity in our existing home would get us well on our way. Here is the question. Construction loans: ~Credit Union - 750 closing cost, 5% interest locked for 3 yrs. At that point we would refinance at the current rates. ~Savings and Loan - 2,500 closing cost plus .5% of loan. (750) at 6.5% locked for 20 yrs. I realize nobody has a crystal ball but what do you think? If rates don't sky rocket I'm ahead with the 5% loan. In the case of steep hikes than the 6.5% for 20 yrs. would be a better choice. I guess it depends on what Mr. Greenspan does after the elections. Thanks for your views. Dan
Follow Ups:
Home
| Forums
Today's Featured Article -
Usin Your Implements: Plow and Disc - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
... [Read Article]
Latest Ad:
2022 John Deere 5045E, 4wd, front end loader and 3rd function with grapple. 120 hrs, 55k new, must sell
[More Ads]
Copyright © 1997-2024 Yesterday's Tractor Co. All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V. Yesterday's Tractors - Antique Tractor HeadquartersWebsite Accessibility Policy |
|