Should I Give Up My 3% Rate?
Launch price $5, list price $10.A new job in another city. A third kid and three bedrooms. Daycare that costs as much as the mortgage. Life keeps moving, and giving up a 3% rate feels impossible to price. Housing writers call it golden handcuffs. If you have outgrown your starter home but cannot stomach losing the rate, this is the decision, worked all the way through. The guide: one chapter per option, stay and budget, remodel or move, mortgage recast, rent it out or sell, and the in between plays. The math worked with real numbers, the breakeven, and who it makes sense for. The full calculator: a private page that puts your income, bills, accounts, and debts on one screen and shows what a move or a new loan would change. The link comes with your purchase. It works on your phone, nothing to install. The Decision Spreadsheet: it compares all six options and scores your leading option, and the calculator starts it for you with your loan numbers already typed in. Works in Excel and Google Sheets, yours to keep. The landlord test: would a tenant at your house cover the payment? What to say on the recast call, and what to ask a lender for a quote. The warning signs to stop, whichever option you pick. No black box. Everything uses the standard mortgage payment formula, run three times and subtracted, and every blue cell in the spreadsheet shows its formula when you click it. Example you can check by hand right now: $300,000 at 3% is $1,265 a month. The same balance at 6.75% is $1,946, so giving up the rate costs $681 a month. A $450,000 loan at 6.75% is $2,919, so the bigger place itself adds $973. Any mortgage calculator will give you the same three numbers. Full method: crushedbetween.com/locked-in/mathGuide, calculator, and spreadsheet, delivered instantly. If it does not make your decision clearer, reply to the receipt and get your money back.
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