Ravi’s Blog

I know this might be a bit late in the game to be thinking about re-financing. But, I just woke up and tried to re-finance my house. I had one of those monthly adjustable, LIBOR based, interest only loans. Things were good in 2001, 2002, 2003. My payments were just getting reduced and at one point, i was only paying an interest of 2.625%.

The last 2 years though, everything started moving in the opposite direction. 04 was okay, but in 05 things began to hurt. I started looking around for “good re-finance” deals in june/july. I kicked myself a little bit for not re-financing in october 04 and not selling some of my y! stock at 38+.

The story has a positive ending though. Venkat Ghanta pointed me to Addison Avenue. They are a credit union based out of palo alto. They have great rates. I got locked in at about 1% lower than my monthly adjustable for a 3/1 ARM. I got my rate locked in on tuesday morning before the FOMC meeting which was even better. You can still get a 3/1 ARM for 4.625% which is pretty good. Here’s the rate sheet. You can submit the loan online if you want. If you go in to the cupertino branch, talk to Curtis Riddle and tell him that you saw addison avenue off my blog.

This entry was posted on Thursday, September 22nd, 2005 at 5:52 pm and is filed under Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.