Keith is going to repeat this wide open

 

Ms. G is hoping for a good night's sleep.

 

Mrs. Adalsteinsson is waiting for her bacon breakfast burrito to finish heating up in the oven.


Monica

 

Mr. Anderson got 4.135% on his 10 (really 5-2-5)

 

What kind of loan did Mr. Anderson get? Mrs. Adalsteinsson is a bit out of the loop.


Monica

 

Mr. Anderson got a 10 year interest only, but it's on a 5-year schedule.

 

Mr. Anderson and his mortgage broker committed high shenanigans.

 

Mr. Anderson will be paying double the minimum amount on said mortgage, which, upon doing the math, puts him in a better position than trying to get a 30 year on the same property (and with lower up-front costs).

 

Sounds like Mr. Anderson got a good rate!


Monica

 

Mr. Anderson is informing Mrs. Adelsteinsson this is not really a perfect or conventional mortgage; and furthermore would advise the Adelsteinsson household just to start saving the 20% down payment like normal people.