Variable rate... that's living on the edge! Mine was fixed, but 5.99% is not to be sneezed at, and there was a weird bubble payment that we will now avoid entirely.
The 10% is variable. Started at 4.75% when we got it, but didn't stay there long. We went with a 3/1 ARM for the primary mortgage, with the intention of refinancing before the 3, since we have to get new mortgages when we switch to condos anyway. So, yeah, 80/10/10 split.
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It's a good thing. Just stings a little bit. :)
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And yee haw for debt load lightening.
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I was sick of the leaf.
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I'm gonna do the same soon. Ours just hit 7% .... ouch!
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Did you get an 80/10/10 split like we did?
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