Search found 23 matches

by brownie1022
Fri Aug 07, 2020 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9999
Views: 703191

Re: Refinance Mega Thread

Appreciate all the help and info from this group. Just locked at 2.625% for 25 years, $1,700 in lender credits, appraisal waived, $250 off origination fee, no PMI. I'm psyched, a month ago I was just hoping to get 3 or below.
by brownie1022
Fri Aug 07, 2020 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9999
Views: 703191

Re: Refinance Mega Thread

Do you have an actual loan estimate from them? If so, the letters are the boxes for each set of fees. The prepaids, interest prorated and taxes/insurance are a given so they should not count towards the cost of the loan. Sorry no LE I just have a fee worksheet (whatever that is?) - $1,595 Originati...
by brownie1022
Fri Aug 07, 2020 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9999
Views: 703191

Re: Refinance Mega Thread

Not necessarily. What are your prepaids? I locked with LD and their lender credit (5k) more than compensates for the origination fee, title insurance, and taxes. If you tell us the A+B+C+E+lender credit explicitly we can make a better determination. Hi - I edited my post a bit, got a little more in...
by brownie1022
Fri Aug 07, 2020 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9999
Views: 703191

Re: Refinance Mega Thread

Not necessarily. What are your prepaids? I locked with LD and their lender credit (5k) more than compensates for the origination fee, title insurance, and taxes. If you tell us the A+B+C+E+lender credit explicitly we can make a better determination. Hi - I edited my post a bit, got a little more in...
by brownie1022
Fri Aug 07, 2020 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9999
Views: 703191

Re: Refinance Mega Thread

Looking for some help understanding things, I've read through a great deal of this thread but something still isn't clicking. We have $435K remaining on a 30 year 3.875% mortgage, $510K initial purchase, current value is ~$575K. Loan Depot quoted me the following: $443K loan, 25 years at 2.625%, $1,...
by brownie1022
Fri Feb 28, 2020 9:04 am
Forum: Personal Investments
Topic: How to handle small windfall
Replies: 2
Views: 227

How to handle small windfall

I wouldn't even call it much of a windfall but it's not nothing. About 10% of net worth coming in next week and the plan was/is to fill in the e-fund, which is ~2 months savings right now. Wife and I are 20+ years out from retirement, ~2 months in e-fund but if you include our Roth's we have 6+ mont...
by brownie1022
Sat Mar 02, 2019 4:21 pm
Forum: Personal Investments
Topic: Old 401K - what to do with it?
Replies: 7
Views: 662

Re: Old 401K - what to do with it?

If you are lucky, your employer pays for it but over the past 15 years the market has shifted to participants paying for the heavily regulated operations on these plans. In August of 2012 a law passed to disclose fees to particiapnts but the plans have made these disclosures hard to read. At least ...
by brownie1022
Sat Mar 02, 2019 3:21 pm
Forum: Personal Investments
Topic: Old 401K - what to do with it?
Replies: 7
Views: 662

Re: Old 401K - what to do with it?

Those are incredible funds for a 401K. Why are you doing a Roth 401K in a high tax bracket? Just curious about your reasoning. Both our Roth's were opened when we were younger. Right now...I don't know. I feel like I can max out my regular 401k and want some after-tax retirement funds because while...
by brownie1022
Sat Mar 02, 2019 2:44 pm
Forum: Personal Investments
Topic: Old 401K - what to do with it?
Replies: 7
Views: 662

Old 401K - what to do with it?

Looking for advice on a 401K from a previous employer, I'll lay out as many details as I can and was hoping for some advice re: t-IRA rollover, Roth conversion, other options with this money both short- and long-term. In general our finances are in order, we ate into our E-fund with a new house and ...
by brownie1022
Wed Jan 11, 2017 2:38 pm
Forum: Personal Investments
Topic: tIRA or rIRA - changing household income
Replies: 1
Views: 317

tIRA or rIRA - changing household income

Hopefully this is a simple question; I'd like to open an IRA account and am not sure the rules around this. Household earnings in 2016 were under the income limit for a Roth IRA, but in 2017 we'll be over the limit. I know you can contribute to a Roth IRA for 2016 until April 15th 2017, but can you ...
by brownie1022
Wed Jan 11, 2017 2:11 pm
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

Given those numbers, I'd max out the 401k and Roths entirely -- $29k a year, or just less than $2500 a month. Plenty of room in your budget to do so (already at 13% in the 401k and $400 a month to HSA, you still have $6500 a month in net take home per month), it reduces your tax burden, and you'll ...
by brownie1022
Wed Jan 11, 2017 1:59 pm
Forum: Personal Investments
Topic: Fixed vs Variable Rate - Student Loan Refi
Replies: 2
Views: 553

Re: Fixed vs Variable Rate - Student Loan Refi

Thanks for the response! To answer your questions: This means taxable income for 2017 will be over $230k, and that's after reducing it by 401k contributions, so after-tax take home pay should be over $10k/mo. Correct, ~11-12K per month depending on how we structure 401K/HSA contributions. Some will ...
by brownie1022
Wed Jan 11, 2017 1:48 pm
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

A 2-bedroom place is double the rent of your one bedroom place? I'd look harder if I were you. It shouldn't be double the rent for a 2-bedroom vs. a 1-bedroom (or, put another way, you should be able to find a 2-bedroom that is less than double a 1 bedroom, simply because you're only increasing bed...
by brownie1022
Wed Jan 11, 2017 1:43 pm
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

I feel like there are some details missing that skew the advice to pay off the debt first. What we see is a large amount of debt and a negative networth, which quickly leads one to think you shouldn't take on more debt with a house. However, you also have a large income, and as a percentage of your...
by brownie1022
Wed Jan 11, 2017 11:45 am
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

Whoa! Do not buy a house until you are out of debt. If you've never been a homeowner, you have NO IDEA how much $$$ you will spend on insurance, property taxes, maintenance, repairs, and furnishings. Buying a house before you are financially stable will only lead to greater debt. And to offer a dif...
by brownie1022
Wed Jan 11, 2017 10:57 am
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

Just for the record here OP. You have a negative networth!! You have fantastic incomes but if your networth was 0, that would be an improvement!! Not an ideal time to be buying a house. Ha, funny you say that...I track all our assets and liabilities online and this past week was the first time I sa...
by brownie1022
Wed Jan 11, 2017 10:32 am
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

Folks are quick to jump on the "PAY OFF THE STUDENT LOAN DEBT NOW" bandwagon, but let's dive into that further. What does your wife do for work? Any chance she can get a job at a non-profit that would qualify her for Public Service Loan Forgiveness? This, used in conjunction with Income-b...
by brownie1022
Wed Jan 11, 2017 9:38 am
Forum: Personal Investments
Topic: Fixed vs Variable Rate - Student Loan Refi
Replies: 2
Views: 553

Fixed vs Variable Rate - Student Loan Refi

Hi all! I got some great advice in another thread about general finances and housing plans, and now I'm shifting gears to ask about student loan debt. My wife recently graduated from a masters nursing program--post-college she realized her passion so had to do a second degree thing, so while she'll ...
by brownie1022
Wed Jan 11, 2017 8:55 am
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

You can have a baby without owning a home. The two don't need to come as a package in any way. You need a bigger emergency fund before you take on a house. I just bought a house 6 months ago and that $25,000 emergency fund I had around after the home purchase is the reason I can sleep at night. Who...
by brownie1022
Sun Jan 08, 2017 12:42 pm
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

Here's another thought, for those who are saying kill the student loan first (and again: I agree, in theory that's 100% the way to go--but in our situation it's not feasible to stay in this 1-bed apartment with children and we're not putting off kids, I'd rather retire a little later, or with a litt...
by brownie1022
Sun Jan 08, 2017 8:03 am
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

The thing I find interesting is only contributing to 401K to the company match and putting the rest toward debt repayment. I understand getting the company match is the most important but we'll never get to contribute that $18K again if we don't do it this year. Yes, it's a guaranteed 5.3% return if...
by brownie1022
Sat Jan 07, 2017 12:02 pm
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

Re: How're we doing?

1. Yes, it makes sense to her the brokerage account into your emergency savings. Is $17.5k enough for 6 months expenses if one of you loses your job? We'd need another $8-10K to get to 6 months, but we both have very stable 9-5 jobs, young and healthy. The goal is certainly to have 6+ months in eme...
by brownie1022
Fri Jan 06, 2017 3:10 pm
Forum: Personal Investments
Topic: How're we doing?
Replies: 33
Views: 4915

How're we doing?

My wife and I are in a transition phase: we got married a few months ago, she started a job a few weeks after the wedding, we're saving for a house (fall '17 goal) and plan on starting a family shortly thereafter. We'd like to sort out finances as much as possible, and I feel like we're behind the 8...