Correction, reread the loan doc, it is 4.25% for 3 years but I'm still content with this deal. Our income is due to increase within the next 6 months so I can easily pay down the principal with the new lower payment and not have to worry about the property taxes due. The loan will revert back to the 6.25% adjustable 6 month libor after the 3 year period. But my husband and I have solid employment (School District and Department of Defense) and military retirement with COLA which means constant increase of income for us almost guaranteed. I've also worked out deals with my other creditors bringing my lowest credit card interest to 5.99% with Discover for the next year.
