Search found 714 matches

by dsmil
Mon Jun 29, 2020 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

1. I am seeing lots of people getting $1000's of lender's credit but i have had no luck - is that because of the loan amount? Your first quote seems to be their rate that is closest to zero lender points/credits. Simply ask them for a quote at 2.625% and they should provide some lender credits. I u...
by dsmil
Wed Jun 24, 2020 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I'm reading this thread and thinking the refi DH and I are doing is not the best deal we could get. Currently, we have 15 years left on a 20 year mortgage at 3.9%. House is valued at $1million. My FICO is 800; DH's is 690, so they're using DH FICO. We are scheduled to close this week. (Hope it's no...
by dsmil
Tue Jun 23, 2020 10:56 am
Forum: Personal Finance (Not Investing)
Topic: How do people sell a house and buy one at the same time?
Replies: 27
Views: 3100

Re: How do people sell a house and buy one at the same time?

You can put offers on a house with a contingency. You'll just want your sale closing to be before the purchase closing so you can use the equity. Once your house sells, the contingency is dropped. Your purchase offer will look more attractive if you are already under contract to sell your home. If y...
by dsmil
Wed Jun 17, 2020 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I received $2k back on my last refinance. There was then an extra amount <$1k that they used for principal reduction. My guy at better.com also mentioned the $2k max. that I can get at closing.
by dsmil
Wed Jun 17, 2020 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

Just so I understand correctly. for example: 2.99% for 30 years. True no cost. No escrow. If I bring this to Better.com and they beat the offer by +$1000 plus Amex ($2500) Since it's a No cost Refi. Does that mean better will send me a check of $1000? then I get $2500 in statement credit to my AMEX...
by dsmil
Fri Jun 12, 2020 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

Is a credit score in the high 700’s generally enough to get the best rates, or does it need to be 800+, 850+? I see people here talking about getting 2.75% with credits on a 30 year, but Better is showing me 3.375% with no points/credits. It’d take about $3500 points to get 2.875%. This is for a re...
by dsmil
Thu Jun 11, 2020 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

Is a credit score in the high 700’s generally enough to get the best rates, or does it need to be 800+, 850+? I see people here talking about getting 2.75% with credits on a 30 year, but Better is showing me 3.375% with no points/credits. It’d take about $3500 points to get 2.875%. This is for a re...
by dsmil
Thu Jun 11, 2020 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I've already locked with better.com and I talked to my better.com "processing expert" yesterday. He said that I can still present competing offers that they will try to match or beat. Also, if the weekly Freddie Mac rate drops .25%, you can float down .125% at no cost. Your weekly Freddie Mac rate ...
by dsmil
Thu Jun 11, 2020 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I'm currently in underwriting with Better.com. They beat another Loan Estimate by $500, so I locked last Friday (June 5). 10-year treasury rate has declined from 0.905% to about 0.67% today, and I see better offers than the rate I locked on LenderFi.com and other places. Does anyone have experience...
by dsmil
Thu Jun 11, 2020 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I am just seeking out quotes today from various companies. I have received a couple of rates. No lock. So rates are not firm. Scenario: Location: MD, property value 790k credit 800 Original Loan 495k @ 3.5% fixed originated on 12/2012 (refi), 30 years. Current principal is 415k. Paying $2202/mo P+I...
by dsmil
Tue Jun 09, 2020 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I’d love to know how everyone is getting these crazy low 30 year, no cost mortgage rates. I shopped around a few different places, and the best I was able to get was 2.75% 15-year with $1700 closing cost, no escrow accounts required. The $1700 basically covers the transfer taxes and the title insur...
by dsmil
Thu Jun 04, 2020 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

Chase contacted me informing me that my 1 year old loan, a 30 year fixed rate at 4.25%, 820600 purchase 656000 original loan, may be eligible for a refinance. No closing (lender credit covers 3k closing), no points, I can go down to 3.49%, if I pay points, as low as 3.125 but that will cost ~7k. Ou...
by dsmil
Tue Jun 02, 2020 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

Better asked to upload documentation for credit check by other lenders (might have known from credit check), is that common and needed to move the application forward? Thanks. Young Fellow For me, they just wanted explanations for recent credit checks, but no documentation was needed. My credit che...
by dsmil
Tue Jun 02, 2020 8:15 am
Forum: Personal Consumer Issues
Topic: How much is your cell phone bill?
Replies: 341
Views: 41223

Re: How much is your cell phone bill?

We have two lines and pay $28 or $34 per month (including fees) with Xfinity Mobile. We switch between the 1 gb and 3 gb plans depending on how much data we're using during the month.
by dsmil
Fri May 29, 2020 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance
Replies: 7
Views: 492

Re: Mortgage Refinance

Yes, going from 4% to 3.125% is a good idea. You would be paying this mortgage for another 5 years so you could alternatively see if you can get a 25 year mortgage. I agree with you counting $3k of fees. The prepaids/escrows shouldn't count in that calculation. If your credit score is good, you shou...
by dsmil
Fri May 29, 2020 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I locked at 3% and a $2,600 lender credit with Keystone Funding on a 30 year loan. Only $400 for the 2.875% rate, but I like going with the lender credits and making it a no-cost refinance. I'm also around 80% LTV and they took my value estimate and got an appraisal waiver, so no PMI for me for the...
by dsmil
Thu May 28, 2020 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I locked at 3% and a $2,600 lender credit with Keystone Funding on a 30 year loan. Only $400 for the 2.875% rate, but I like going with the lender credits and making it a no-cost refinance. I'm also around 80% LTV and they took my value estimate and got an appraisal waiver, so no PMI for me for the...
by dsmil
Thu May 28, 2020 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I locked at 3% and a $2,600 lender credit with Keystone Funding on a 30 year loan. Only $400 for the 2.875% rate, but I like going with the lender credits and making it a no-cost refinance. I'm also around 80% LTV and they took my value estimate and got an appraisal waiver, so no PMI for me for the...
by dsmil
Tue May 26, 2020 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I locked at 3% and a $2,600 lender credit with Keystone Funding on a 30 year loan. Only $400 for the 2.875% rate, but I like going with the lender credits and making it a no-cost refinance. I'm also around 80% LTV and they took my value estimate and got an appraisal waiver, so no PMI for me for the...
by dsmil
Tue May 26, 2020 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I locked at 3% and a $2,600 lender credit with Keystone Funding on a 30 year loan. Only $400 for the 2.875% rate, but I like going with the lender credits and making it a no-cost refinance. I'm also around 80% LTV and they took my value estimate and got an appraisal waiver, so no PMI for me for the ...
by dsmil
Tue May 26, 2020 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2632
Views: 210251

Re: Refinance Mega Thread

I see a lot of people saying "no cost" but Better's 'no cost' option had like $3000 for appraisals, gov fees, etc. is this typical? We may move in 3-5 years (maybe not) so I don't want to go through the effort for almost break even. Currently about $215k@4% in Texas. Any thoughts on this? Wouldn't ...
by dsmil
Tue May 12, 2020 10:17 am
Forum: Personal Finance (Not Investing)
Topic: How to consider home improvement expenses
Replies: 25
Views: 1340

Re: How to consider home improvement expenses

I still count major improvements as expenses, but I track them separately from my monthly budget. It get tracked along with bonuses, vacations, other major misc. items. I do update my net worth spreadsheet for the estimated increase in house value, so on a net worth basis, it offsets some of the cos...
by dsmil
Fri May 08, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: PPP - Reduce Salary?
Replies: 12
Views: 1246

Re: PPP - Reduce Salary?

I don't think that you need to reduce your salary for 8 weeks in order to be in compliance with the program, but your qualifying (and forgivable) costs will be limited to that $1,923 per week. So I think you'll have to pay back that $6k eventually.
by dsmil
Mon Apr 27, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Carrying a big long mortgage
Replies: 96
Views: 6789

Re: Carrying a big long mortgage

I'm more in the Edelman camp than the Dave Ramsey camp when it comes to mortgages, or any low-interest debt for that matter. I don't agree with "have as big a mortgage as you can get", but I don't mind having some low-interest debt if it allows me to have more savings/investments available in a time...
by dsmil
Mon Apr 27, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Do you expect your employer to change their stance on WFH after Coronavirus?
Replies: 99
Views: 6142

Re: Do you expect your employer to change their stance on WFH after Coronavirus?

Nope. My company is old school and they were very resistant to letting us work from home at all in the earlier stages of the virus. Now they are allowing people to do half of their work from home during the virus, but I expect that we'll all be back in the office once this passes.
by dsmil
Tue Apr 14, 2020 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Where Will Stimulus Check Go?
Replies: 37
Views: 2788

Re: Where Will Stimulus Check Go?

steadyhand wrote:
Tue Apr 14, 2020 10:28 am
What if there was no refund but instead had to pay?
I'm in this situation as well and I'm under the impression that we won't be part of that first group.
by dsmil
Tue Apr 14, 2020 12:52 pm
Forum: Personal Consumer Issues
Topic: Help Fix My Lawn!
Replies: 31
Views: 2450

Re: Help Fix My Lawn!

My lawn in Maryland is terrible so I just ordered the Cool Season Guide from https://thelawncarenut.com/ and have been watching his youtube videos. He loves the Milorganite so I'm going to throw that on in early April, mid-May, late September, and at the end of October and will use 3,000 sq ft per b...
by dsmil
Fri Apr 10, 2020 2:37 pm
Forum: Personal Consumer Issues
Topic: Help needed for PPP Bank of America issues
Replies: 5
Views: 572

Re: Help needed for PPP Bank of America issues

Would you be willing to open up a credit card in order to qualify?

My company applied with a bank but didn't have an existing account, so we are opening a bank account with them if we get accepted.
by dsmil
Fri Mar 27, 2020 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Need help regarding Refinance - feels like I am being ripped off!
Replies: 28
Views: 1741

Re: Need help regarding Refinance - feels like I am being ripped off!

My current mortgage balance is $198,417. Closing cost has origination charges, appraisal fee, title fee, taxes, insurance premium and escrow. Origination charges, appraisal fees, and title/taxes are your real closing costs. Don't include the insurance and escrow amounts, because those are just amou...
by dsmil
Fri Mar 20, 2020 6:56 am
Forum: Investing - Theory, News & General
Topic: Young investors, how do you feel about your 1st market crash?
Replies: 132
Views: 8997

Re: Young investors, how do you feel about your 1st market crash?

I'm in my low 30's and really don't care about myself losing some retirement money. I don't think stock prices in 2050 are affected by a crash in 2020. If I had cash sitting on the sidelines, I would have been buying more in the last couple of weeks.
by dsmil
Tue Mar 17, 2020 9:12 am
Forum: Investing - Theory, News & General
Topic: Bob Brinkers Marketimer Alert
Replies: 25
Views: 4248

Re: Bob Brinkers Marketimer Alert

My father gets his monthly newsletter. He did pick the exact day of the low in February 2016 and gave a buy signal. Other than that, I think he's usually for dollar cost averaging.
by dsmil
Wed Mar 11, 2020 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a home 3x income ?
Replies: 28
Views: 3175

Re: Buying a home 3x income ?

I wouldn't put too much into that ratio. I would see how the monthly payment and estimated maintenance expenses fit into your budget. Low interest rates, high income, and a large down payment can all help stretch that ratio out. If you really want to use a ratio, I prefer the ratio that your monthly...
by dsmil
Tue Mar 10, 2020 7:30 am
Forum: Personal Consumer Issues
Topic: What is the best concert you ever witnessed?
Replies: 385
Views: 27700

Re: What is the best concert you ever witnessed?

Bruce Springsteen at Nationals Park in DC in Sept. 2016. Even though I grew up in NJ and my parents are Bruce's age, they didn't play his music in our house growing up. I came into the concert being a very casual listener, who only owned one of his greatest hits albums with about 12 songs on it. I w...
by dsmil
Mon Mar 02, 2020 7:10 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 5546
Views: 1359213

Re: What Movie Have You Recently Watched?

Parasite, and I thought it was great. Don't watch the trailer, just see it.
by dsmil
Fri Feb 21, 2020 9:08 am
Forum: Personal Consumer Issues
Topic: Guitar for a 45 year old beginner
Replies: 52
Views: 3980

Re: Guitar for a 45 year old beginner

I recommend this website for learning

http://www.justinguitar.com/
by dsmil
Tue Feb 18, 2020 11:52 am
Forum: Personal Consumer Issues
Topic: Bathroom remodel -10K- Is it expensive?
Replies: 44
Views: 5396

Re: Bathroom remodel -10K- Is it expensive?

For reference, we just gutted and remodeled two small, full bathrooms (4x8 and 5x7) for $8k per bathroom (labor + materials).
by dsmil
Mon Feb 10, 2020 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase
Replies: 7
Views: 866

Re: Home Purchase

$300k income and able to get a 15 year mortgage while maxing 2 401k's, a Roth, and an HSA? I think you're in great shape to get a home. I still don't understand the need for 20% down that everyone seems to suggest here. Paying $50 per month in PMI for a few years isn't a big deal. I'd much rather be...
by dsmil
Thu Feb 06, 2020 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Which mortgage would you choose here
Replies: 12
Views: 977

Re: Which mortgage would you choose here

3.125% 30-year fixed seems like a great rate. Your cash flow will be better and you don't have to worry about an adjustable rate. I'm guessing that you are in jumbo loan territory on a 595k mortgage, so you are likely paying a premium for that. You may be able to get an even lower rate if you can un...
by dsmil
Tue Feb 04, 2020 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: House down payment strategy?
Replies: 40
Views: 2641

Re: House down payment strategy?

Were they just luring me to buy? In my experience, lenders will approve you for more than you should actually take. They'll probably use whatever the maximum debt to income ratio is for a conventional loan. I'm sure that giving a larger loan helps them, and they'll wind up selling the loan anyway a...
by dsmil
Mon Feb 03, 2020 12:43 pm
Forum: Personal Consumer Issues
Topic: What video games are you currently playing?
Replies: 288
Views: 37628

Re: What video games are you currently playing?

Fifa 17 (bought used for $15) on Xbox 360 (received as a gift in 2010). It's the only game that I ever play. True Boglehead style right there.
by dsmil
Mon Jan 13, 2020 10:58 am
Forum: Personal Consumer Issues
Topic: Charleston mid-March to mid-April Recommendations
Replies: 15
Views: 781

Re: Charleston mid-March to mid-April Recommendations

Here are some of things we liked: “Free” Tour of Charleston – 2 hour walking tour and our guide was really good. http://www.freetoursbyfoot.com/charlest ... -district/ Kudu Coffee & Beer – They serve coffee and great beer, and have a nice outdoor courtyard. We were here a lot! - http://kuducoffeeand...
by dsmil
Fri Jan 10, 2020 10:26 am
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 433
Views: 94186

Re: What age did you reach 100K networth?

Age 28. $50k home equity, $25k cash, $70k retirement, minus $45k of student loans.
by dsmil
Fri Jan 10, 2020 9:47 am
Forum: Personal Consumer Issues
Topic: New Sewer Line 2 weeks after Home Purchase. Any Legal Recourse?
Replies: 75
Views: 6357

Re: New Sewer Line 2 weeks after Home Purchase. Any Legal Recourse?

We had a similar thing happen in our last house. Clogs started immediately after moving in, and finally after the county cleaned the line a few times, they finally sent a camera down there and said we had to replace the line. I also found it hard to believe that the sellers weren't aware of this but...
by dsmil
Wed Jan 08, 2020 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Picking a Realtor
Replies: 36
Views: 2423

Re: Picking a Realtor

Maybe you've done research in your area, but in my experience, don't assume you'll have to pay 6%. In our case (Maryland), we paid 2% for our (seller's) realtor and 2.5% to the buyer's realtor. Our house was an easy sell though, so it's possible that they would have wanted to charge more if they kne...
by dsmil
Tue Jan 07, 2020 7:59 am
Forum: Personal Consumer Issues
Topic: How do YOU make coffee?
Replies: 266
Views: 17613

Re: How do YOU make coffee?

On the weekends, I use a stovetop coffee maker (like a Moka Pot) and use a manual grinder to grind the beans. We visited family in Italy a few months ago, and everyone over there has a stovetop coffee maker. I picked one up while over there and have used it ever since. It makes a great cup of very d...
by dsmil
Mon Jan 06, 2020 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Should I refinance?
Replies: 11
Views: 589

Re: Should I refinance?

It seems like a good idea, but definitely shop around to make sure you're getting the best rate/fees. On our recent refinance, our fees (not including escrows/prepaids) were about $3k (origination, title, appraisal). Also, if you are paying PMI and you've put some money into the house, the appraisal...
by dsmil
Thu Jan 02, 2020 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay home renovation with cash?
Replies: 17
Views: 1992

Re: Would you pay home renovation with cash?

We just did the 0% credit card offer route while renovating two bathrooms. We'll pay it in 15 months, will earn credit card points, and will earn some interest on the money for the time being.
by dsmil
Tue Dec 31, 2019 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: How much were you able to save this year?
Replies: 142
Views: 10991

Re: How much were you able to save this year?

We only saved 6% of gross towards retirement this year ($8k). Doing some home renovation projects has taken precedent so we'll likely be stuck at this level for a couple more years. After that, we should be back to 15% savings.
by dsmil
Thu Dec 19, 2019 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Help with Home purchase--How much to put down
Replies: 18
Views: 958

Re: Help with Home purchase--How much to put down

I would either do #1, or something between #1 and #2. I don't like the idea of buying points and would rather put the extra money towards the down payment, instead of a fee to the mortgage company. The payoff on paying points takes some time and you may be able to refinance before then anyway. The $...