Search found 475 matches

by Golf maniac
Sun Aug 02, 2020 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Considering a mortgage refinance
Replies: 3
Views: 443

Re: Considering a mortgage refinance

I would at least go to Lenderfi and Aim Loan online to compare what the broker gives you. Both sites take 5 minutes to get quotes and you don’t have to provide any personal information.
by Golf maniac
Sat Aug 01, 2020 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a House in Sellers Market?
Replies: 17
Views: 1889

Re: Buying a House in Sellers Market?

If you don't look at buying a house as an investment, you'll come to the right decision for yourself. +1. Houses are a lifestyle not an investment. If you want the lifestyle upgrade and can afford it then go for it. If you can upgrade your existing house to meet your lifestyle needs then that may b...
by Golf maniac
Sat Aug 01, 2020 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Advice on a simple way to distribute income in retirement?
Replies: 15
Views: 1590

Re: Advice on a simple way to distribute income in retirement?

If you know the order of accounts you will be using then just make monthly withdrawals, have them withhold taxes at your marginal rate and send it to your checking each month. That is what I do. Very simple.
by Golf maniac
Sat Aug 01, 2020 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Homebuyers: Did you use a broker to help secure a mortgage?
Replies: 20
Views: 1551

Re: Homebuyers: Did you use a broker to help secure a mortgage?

the amount will be $500-$600K (likely jumbo) on a 30-year fixed with a 80/20 LTV. local credit union quote is 3.125% with $12K in closing costs. Alliant CU has it at 3.375% with $12K closing costs. do these sound like decent rates? can we do better? again, total noob here so any advice appreciated....
by Golf maniac
Sat Aug 01, 2020 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Home Remodel/Renovation Costs
Replies: 14
Views: 942

Re: Home Remodel/Renovation Costs

As everyone stated it will vary tremendously based on quality of fixtures and local contractors. What you need is a good general contractor. Explain what you want done, your budget, and see what he says. I would do everything but the pool first. It is going to be a mess for a while but better to get...
by Golf maniac
Fri Jul 31, 2020 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Can a (mortgage) lender do this? [prepayment question]
Replies: 10
Views: 1201

Re: Can a (mortgage) lender do this?

A prepayment of prinicpal is not a partial payment, though it may be treated as one if you make it before your regular payment if your regular payment is already due. Many servicers allow you to select "principal only" or "additional principal" through their online payment options. +1. Agree, mortg...
by Golf maniac
Fri Jul 31, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: How much home can I afford?
Replies: 42
Views: 3382

Re: How much home can I afford?

I agree with look to upgrade your rental. See what 4K a month can get you and you can come out ahead. Life events happen fast which can make you regret being saddled with RE. Just looked at rentalsinsf.com and looks like some nice places under 4K.
by Golf maniac
Thu Jul 30, 2020 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Is guarantor on lease personally liable
Replies: 24
Views: 1651

Re: Is guarantor on lease personally liable

As a guarantor you are only guaranteeing payment. Now this guarantee could be for damage of the property during the lease period. Just make sure she has renters insurance.
by Golf maniac
Tue Jul 28, 2020 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Ready to Buy 1st House. Please help.
Replies: 7
Views: 543

Re: First Time Home Buyer. Need Some Advice.

Really know your finances and have a budget. If you have to reduce or eliminate retirement savings you are buying to much house. For builders you will need to talk to people in your local area unless a national builder, can review those online. Be careful with the upgrades they can really raise the ...
by Golf maniac
Sat Jul 25, 2020 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: struggling to get a mortgage
Replies: 85
Views: 7258

Re: struggling to get a mortgage

To answer OP original question, as stated previously, to get a traditional mortgage you will need a co signer, no way around it. If no co signer then will need to go the non traditional mortgage route. Once you rent the original home and start to get some cash flow going for a while, then you can re...
by Golf maniac
Fri Jul 17, 2020 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Stumbling upon Retirement
Replies: 18
Views: 2501

Re: Stumbling upon Retirement

I recommend a detailed retirement budget to see what you will need. Add an inflation factor each year and a rate of return from your portfolio. If you plan to travel put that in. You really need to figure out SS as each situation is different. If your personal SS benefit is greater than spousal then...
by Golf maniac
Fri Jul 17, 2020 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance - escrow payment
Replies: 8
Views: 622

Re: Refinance - escrow payment

Location, LTV, credit score, etc all make a difference in rate. Comparing the rate you got or someone else got to the OP is worthless. He shopped and found the best rate he could find. To answer his original question, if your goal is to take money and invest and pay as little as possible on a mortga...
by Golf maniac
Mon Jul 06, 2020 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Based on neighborhood fireworks how is your local economy doing?
Replies: 55
Views: 4087

Re: Based on neighborhood fireworks how is your local economy doing?

Saw a video from a helicopter over LA, it looked like the whole city was shooting them off. Crazy. And they were not the little ones, it was the really big ones.
by Golf maniac
Fri Jul 03, 2020 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Long-term planning for RMD
Replies: 12
Views: 1087

Re: Long-term planning for RMD

Don’t forget Medicare. If you plan to use Medicare part B they will look back two years at income level. Depending on income premiums can increase.
by Golf maniac
Wed Jul 01, 2020 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgages
Replies: 2
Views: 518

Re: Mortgages

Online lenders include Aim Loan and Lenderfi. As far as rates, it will vary based on location, credit score, LTV, etc. people can give you there rates but that will be meaningless to you. You also need to compare closing costs. They can vary from lender to lender. I recommend looking at online lende...
by Golf maniac
Wed Jul 01, 2020 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Help choosing federal health insurance
Replies: 51
Views: 3018

Re: Help choosing federal health insurance

Any of the ones you listed will work. The good thing about federal positions is the ability to change plans annually or if life events occur (marriage, kids). Make sure you check each for psychotherapy coverage as they can vary from plan to plan.
by Golf maniac
Sat Jun 27, 2020 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to Get the Best Deal on a Mortgage
Replies: 9
Views: 1165

Re: How to Get the Best Deal on a Mortgage

I used Aim loan on refi not purchase. Use the search tool here, lots of info on online companies. Also google for reviews. Aim and Lenderfi both have very good reviews on here. In fact there is a very long Lenderfi post on here if you search.
by Golf maniac
Sat Jun 27, 2020 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Independant contract offer, what am I missing?
Replies: 21
Views: 1527

Re: Independant contract offer, what am I missing?

If travel is involved they should pay for travel expenses.
by Golf maniac
Sat Jun 27, 2020 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Home Refinance Y/N?
Replies: 7
Views: 564

Re: Home Refinance Y/N?

Check lenderfi and aim loan online. Simple process to see if fees and rates are in line without giving personal information. If the closing costs, not prepaid or escrow, can be paid off in a reasonable amount of time from the decrease in payment then it makes sense. It does depend on how long you an...
by Golf maniac
Sat Jun 27, 2020 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Data Breach During Mortgage Process
Replies: 21
Views: 1267

Re: Data Breach During Mortgage Process

Talk to an attorney. I suspect their in house counsel will be in touch shortly with an offer of some small dollar amount and maybe just credit monitoring for two years. But that will come with a waiver of any future liability. It will be difficult to prove any loss you may incur in the future is a r...
by Golf maniac
Sat Jun 27, 2020 9:16 am
Forum: Personal Finance (Not Investing)
Topic: How to Get the Best Deal on a Mortgage
Replies: 9
Views: 1165

Re: How to Get the Best Deal on a Mortgage

Purchasing a home is a little different than a refinance. On a refi you don’t really have a time pressure to close, you can push it back if needed. But on a purchase you need a date specific closing date that is very difficult to change. If I were you I would do the following: 1. Get a preapproval l...
by Golf maniac
Thu Jun 25, 2020 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Help me decide whether or not to refinance
Replies: 34
Views: 1850

Re: Help me decide whether or not to refinance

Take the 20 year, but why would you roll closing costs into the loan? Why pay interest on $2500 over 20 years when you can just pay $2500 today? It does not sound like this amount of money should be of concern. +1. With a large taxable account it makes no sense to finance the closing costs. Go for ...
by Golf maniac
Thu Jun 25, 2020 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Navigating tight housing markets
Replies: 30
Views: 2026

Re: Navigating tight housing markets

Why does everyone want to own a home? IN certain markets renting makes much more sense. I would not get in a pricing war and be stuck in a home in a market that may cool as rapidly as it increases. Renting makes sense in a lot of instances but we get wrapped up in the competition and falling in love...
by Golf maniac
Wed Jun 24, 2020 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Help me decide whether or not to refinance
Replies: 34
Views: 1850

Re: Help me decide whether or not to refinance

Take the 20 year, but why would you roll closing costs into the loan? Why pay interest on $2500 over 20 years when you can just pay $2500 today? It does not sound like this amount of money should be of concern. +1. With a large taxable account it makes no sense to finance the closing costs. Go for ...
by Golf maniac
Sat Jun 20, 2020 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Interviewing buyers realtor; confused
Replies: 38
Views: 3824

Re: Interviewing buyers realtor; confused

Why can’t you find a neighborhood and lots you like and send letters yourself? You can offer more to the home owner since you don’t charge a commission. If you want to go the realtor route you will need to talk to friends and others to get names. Then interview and see what they say. It is a bit of...
by Golf maniac
Sat Jun 20, 2020 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Am I in a position to negotiate? 801 credit score cash out refinance
Replies: 27
Views: 2457

Re: Am I in a position to negotiate? 801 credit score cash out refinance

Going online at Aimloan and Lenderfi costs you nothing and takes about 5 minutes to complete without giving personal information. It is a no brainer to at least check these sites and see what they offer. If you want to do more you can check with local banks and credit unions. Just remember rates are...
by Golf maniac
Fri Jun 19, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Interviewing buyers realtor; confused
Replies: 38
Views: 3824

Re: Interviewing buyers realtor; confused

Why can’t you find a neighborhood and lots you like and send letters yourself? You can offer more to the home owner since you don’t charge a commission. If you want to go the realtor route you will need to talk to friends and others to get names. Then interview and see what they say. It is a bit of ...
by Golf maniac
Fri Jun 19, 2020 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Car Insurance for 21 year old male - full or liability coverage
Replies: 12
Views: 659

Re: Car Insurance for 21 year old male - full or liability coverage

Just need to ask one question, are you willing to repair / replace the car if he gets in an accident that he caused? If yes then liability, if no full coverage. I am assuming the title is in his name and no liability to you if he gets in a wreck.
by Golf maniac
Thu Jun 18, 2020 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Is it retirement time yet?
Replies: 22
Views: 2651

Re: Is it retirement time yet?

Two big issues: what will be their annual expenses in retirement and how will they handle health care. Just a general observation, once you have a certain lifestyle it may be hard to downsize. It can be done but some people may bristle at the changes. For my lifestyle I could easily retire with thei...
by Golf maniac
Thu Jun 18, 2020 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for future home - overextending?
Replies: 19
Views: 1496

Re: Planning for future home - overextending?

+1 Get rid of the PMI ASAP. If you don’t get anything else out Of this thread get the above point. There is no reason for you to hold money for a future down payment when your paying PMI. I would be throwing all my extra money at principal reduction on your current mortgage. You will reduce the inte...
by Golf maniac
Thu Jun 18, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance Quotes - How to get multiple quotes quickly and easily?
Replies: 12
Views: 897

Re: Homeowners Insurance Quotes - How to get multiple quotes quickly and easily?

I get trying to lower car insurance but you need to really read reviews and see about their customer service and claims paying. A few years ago I got sick of the constant increases and went with Progressive. Then started reading the nightmare reviews and I was worried the entire time. At renewal in ...
by Golf maniac
Wed Jun 17, 2020 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: 2020 Pre-retirement Sanity Check
Replies: 9
Views: 1300

Re: 2020 Pre-retirement Sanity Check

Being retired almost five years now a couple of things to remember. First, make sure you budget for travel in the early years of retirement. This was a lot more than we anticipated. Second, there are lumpy expenses you need to account for in your retirement (cars, home repairs / improvements, etc) s...
by Golf maniac
Wed Jun 17, 2020 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Rent to Mother while in a good situation?
Replies: 6
Views: 559

Re: Rent to Mother while in a good situation?

If you are not terribly interested in being a landlord then I would not do it. It is just another hassle you don’t want if starting a family. Plus as your mother ages do you really think she wants to do this? A much simpler arrangement would be to provide your mother some additional funds if rents g...
by Golf maniac
Wed Jun 17, 2020 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Am i safe to retire?
Replies: 28
Views: 3823

Re: Am i safe to retire?

I wouldn’t just rely on people here giving advice. You need to do a retirement budget and see how much you will need to pull from your portfolio. You can use an inflation increase for expenses and annual return on investments. Run different scenarios with various social security claim strategies and...
by Golf maniac
Wed Jun 17, 2020 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Too Much Retirement/Not Enough for House?
Replies: 127
Views: 13304

Re: Too Much Retirement/Not Enough for House?

It still amazes me that people will go into all kinds of financial gyrations just to buy a house. It’s this whole home industry (realtors, home builders, Mortgage companies, government) that have us brainwashed into the American dream. It is a lifestyle and can be a great lifestyle, but to put your ...
by Golf maniac
Mon Jun 15, 2020 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage rates and add on's
Replies: 4
Views: 480

Re: Mortgage rates and add on's

Besides online lenders above, check local banks and credit unions. Checking with a broker can’t hurt. Remember to check closing costs. Rates and closing costs will vary based on location, credit score, LTV, loan amount and if you escrow or not.
by Golf maniac
Sat Jun 13, 2020 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Verify a young families priorities
Replies: 29
Views: 2450

Re: Verify a young families priorities

As others have stated the car debt is the anchor around your neck. You can easily get good solid transportation for well under 50% of debt. I would see how underwater you truly are in the vehicles and then if possible sell and get two good used cars 2 to 3 years old. If you can’t do that at least lo...
by Golf maniac
Fri Jun 12, 2020 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: What is/isn’t included in “closing costs”?
Replies: 9
Views: 875

Re: What is/isn’t included in “closing costs”?

Have you gone online to Aim Loan or Lenderfi? They will give you exact closing costs that will be very close to actual. Any lender should be able to give you a very good estimate on closing costs. Check local banks and credit unions, online lenders and at least one broker. Also, realize you closing ...
by Golf maniac
Fri Jun 12, 2020 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage [How do I find the best rates?]
Replies: 6
Views: 689

Re: Mortgage

Never agree to having your credit pulled until you settle on one lender. If anyone says they can’t give you a quote without pulling your credit then walk away. Really? Yes, I used to believe the 14 day unlimited pulls count as one until I had 3 pulls within 2 weeks on a refi that showed up as 3 inq...
by Golf maniac
Fri Jun 12, 2020 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: home improvement vs investment?
Replies: 25
Views: 1143

Re: home improvement vs investment?

In the homes we have had changing the flooring makes the biggest difference. Going from carpet or vinyl to an engineered woodmade the house look completely different (bigger). The kitchen can also make a big difference. You have your EF and retirement handled, no reason not to upgrade if that is how...
by Golf maniac
Tue Jun 09, 2020 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage [How do I find the best rates?]
Replies: 6
Views: 689

Re: Mortgage

You need to do some legwork. It is a very large financial transaction and it is worth you doing your research. You should check with local banks and credit unions, a mortgage broker, and online lenders such as Aim loan and Lenderfi. These financial institutions can provide you the loan rate and esti...
by Golf maniac
Tue Jun 09, 2020 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: How do I get the best mortgage?
Replies: 32
Views: 2949

Re: How do I get the best mortgage?

Aim Loan and Lenderfi are two online resources that only take a few minutes to get a rate and closing costs Are there extra steps I need to take to see the closing costs? On Aim Loan it appears the closing costs are much lower than the broker suggested, but they are so low that I suspect I’m not se...
by Golf maniac
Tue Jun 09, 2020 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing Home Mortgage Options
Replies: 5
Views: 519

Re: Refinancing Home Mortgage Options

Don’t pay points and don’t roll closing costs into your loan amount if you have plenty of extra cash available. What your broker is saying is if you take the amount your payment will be reduced and take closing costs and divide it by the amount of payment reduction you will get the number of months ...
by Golf maniac
Mon Jun 08, 2020 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: How do I get the best mortgage?
Replies: 32
Views: 2949

Re: How do I get the best mortgage?

Definitely compare. You can save thousands of dollars over the life of the loan. Not only look at the rate but also compare closing costs. I would check local banks and credit unions, at least one broker, and at least a few online mortgage companies. Aim Loan and Lenderfi are two online resources th...
by Golf maniac
Sun Jun 07, 2020 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: sell or keep extra mower?
Replies: 21
Views: 1083

Re: sell or keep extra mower?

Keep it, my neighbor and I both have Ego mowers, neighbor just sent his in for repairs (6 to 8 weeks). I am having an issue with mine (back left wheel). We live in Florida, in 6 to 8 weeks we will be in a jungle. My neighbor decided to buy a second mower and not borrow mine for 8 weeks. We have to m...
by Golf maniac
Sun Jun 07, 2020 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Home Selling Advice
Replies: 5
Views: 605

Re: Home Selling Advice

Agree, contact realtors (at least 3) and have them evaluate the home and what to update. Ask them what you can get for the home “as is” and what can you get if you do the recommended upgrades. Many things can be done that will not cost a lot and will make your place more presentable. Remember some r...
by Golf maniac
Sun Jun 07, 2020 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep my $1 million life insurance policy after age 65?
Replies: 65
Views: 5043

Re: Should I keep my $1 million life insurance policy after age 65?

Only reason to keep term insurance into our 60’s or70’s and that is if one spouse (Or dependent child) would have an earnings reduction when the other dies that will impact their standard of living. For OP, spouse will lose her SS benefit and pick up survivor benefit. If assets are sufficient to mak...
by Golf maniac
Sun Jun 07, 2020 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: To refinance a mortgage or not?
Replies: 3
Views: 430

Re: To refinance a mortgage or not?

Shop around: local lenders, broker, and online (Aim Loan and lender fi). I personally would try not to pay points. I am assuming your budget can handle a 15 year vs 30, I would chose 15. Remember, rate and closing costs will vary based on your location, credit score, and LTV. So what someone else pa...
by Golf maniac
Sat Jun 06, 2020 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford 600k house?
Replies: 95
Views: 8888

Re: Can we afford 600k house?

Life is all about trade offs. Personally we decided to go smaller and save more for retirement. 30 years later we are happily retired. My advice is make a budget on your income only. If it is an older house don’t forget to budget for maintenance, decor, and any upgrades you want. I would not sacrifi...