Search found 51 matches

by mt2k
Sat Nov 21, 2020 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

We just signed the closing documents on our refinance with Amerisave. I didn't do a lot of work getting estimates and just went with a rate that we thought looked good compared to another lender we had been talking to. The terms were 2.5% for a 15 year mortgage in the amount of $570K, about 57% LTV...
by mt2k
Sat Nov 21, 2020 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

presto987 wrote: Fri Nov 20, 2020 11:56 pm
Your current lender will get overpaid, so they are the ones who will refund you the difference. Normally the payoff amount will include at least a week's worth of extra interest beyond the expected funding date.
+1
by mt2k
Fri Nov 20, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Oh man, I agree. Don't get me started on Quicken Loans. The guy stroked my ego then tried to hit me with the high pressure sales pitch. Nice try... Right! Please for the love of sanity DO NOT EVEN SHOP Quicken Loans. You, dear reader, have been warned. (This is like the hieroglyphics warning those ...
by mt2k
Thu Nov 19, 2020 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Hi, How can I check if it makes sense to refinance. How much will I save? House buy price: 282k 2019. Down payment 120k Current mortgage balance: 120k Interest: 3.625% 15yrs Monthly payment $1168 but paying $1600. Paid one time payment of $25k. Current house value estimate : 310k By paying addition...
by mt2k
Wed Nov 18, 2020 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Hoping for some quick advice, have a 30 yr fixed refi set to close this week at 2.625 with 1200 in lender credit, but seeing that the current rates are 2.375. Do you think it's worth backing out of this refi before closing for the lower rate? If it is true no-cost refinance I would suggest to conti...
by mt2k
Mon Nov 16, 2020 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to refinance?
Replies: 9
Views: 979

Re: Does it make sense to refinance?

Current Mortgage Balance: $~190k Rate: 3.75 Refinanced 11 months ago so have 29 years left New Mortgage: Most costs waived except escrow, title, and recording fees = ~$2k Rate 2.875 Looks like the new mortgage payment would be about $94 lower with $50 extra going to the principal each month. Accord...
by mt2k
Mon Nov 16, 2020 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Locked in 2.5% with Quicken Loans through an agent, 30 yrs, no closing cost (D+E-Lender Credit=0), no escrow. Loan amount: $365K, 69% LTV I have used this agent several times in the past. Always closes within 4 weeks. However, this time he says he cannot close prior to December 23rd which is almost...
by mt2k
Sun Nov 15, 2020 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Locked in 2.5% with Quicken Loans through an agent, 30 yrs, no closing cost (D+E-Lender Credit=0), no escrow. Loan amount: $365K, 69% LTV I have used this agent several times in the past. Always closes within 4 weeks. However, this time he says he cannot close prior to December 23rd which is almost ...
by mt2k
Tue Jul 07, 2020 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Hi All, I need a quick decision and I hope you all can help! I'm inclied to take up on the offer and lock in today but need some reassurance. Finally was able to speak to a LoanDepot loan officer and got below LE. I need to lock in an hour or so to get the deal done. Please advise if this looks goo...
by mt2k
Tue Jul 07, 2020 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Long time lurker of the forum. Currently I have a 30 year mortgage that I have had for about a year at 3.65% in Florida. I have been slowly shopping around and gotten several quotes from lenders. This one looks to be the best so far but wanted the opinions of the experts. Better offered me a far le...
by mt2k
Mon Jul 06, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Gave consent to process and not underwritten, but now found almost 0.25% lower interest rate, advise please

Hi BrandonBogle, thank you for great response and suggestion, People posted in this forum that it is taking 50 days plus and they are extending rate lock if the loan is not closed by that date. I also edited my post where in Travis CU closing costs are cheaper by $1000 even with home appraisal wher...
by mt2k
Sun Jul 05, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

I just locked at 2.875% for a 30-yr FRM, with no points or lender fees. In fact, we got a lender credit of $1,500, bringing total closing costs to $500. I’ve never seen such good terms so jumped on it. Is this too good to be true? We’ve never heard of the lender, CF Bank, but they got good reviews ...
by mt2k
Thu Jul 02, 2020 11:04 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

Where are people buying UPRO/TMF? I tried purchasing some in my Roth IRA (Vanguard), and it would not allow me to buy leveraged products?! A lot of us are using M1 Finance. Thanks did some digging and found that Vanguard recently banned leveraged ETFs. Any concerns with using these 'next-gen' broke...
by mt2k
Wed Jul 01, 2020 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

I just locked at 2.875% for a 30-yr FRM, with no points or lender fees. In fact, we got a lender credit of $1,500, bringing total closing costs to $500. I’ve never seen such good terms so jumped on it. Is this too good to be true? We’ve never heard of the lender, CF Bank, but they got good reviews ...
by mt2k
Tue Jun 30, 2020 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Hi all, I'd really appreciate help on the following loan options. I currently have a 3.75%, $780k loan remaining with 70% LTV. I've been shopping jumbos really hard and have it down to the following three options. All options do not have an escrow requirement (yay!) and the closing costs would roll...
by mt2k
Thu Jun 25, 2020 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Thanks to this thread we were able to shop around for a much better deal than we had expected. We currently have a ~700K 15 yr @ 3.625% for a ~2 mil house. 800+ credit score, no escrow. Here are the quotes I got (all fixed terms): LoanDepot 15yr 2.5% ~$3k closing cost 30yr 2.875% ~$3k closing Quick...
by mt2k
Thu Jun 25, 2020 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Thank you! I ended up deciding to go with the 3% rate, as I will still be dropping 1% point and will even be able to apply some of the lender credits to the prepaids/escrow. Currently, the closing is estimated to be 8/7, that estimate seems to be par for the course, based on others' experiences her...
by mt2k
Thu Jun 25, 2020 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Thank you very much, Brandon, for the link to that spreadsheet - it has been exactly the thing I was looking for to compare rates and costs! Following up, I decided to shop for the 15-year fixed, and so far, Northpointe has provided the best quotes. Sharing the two below that are most attractive to...
by mt2k
Wed Jun 24, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Just locked with LenderFi I am moving from a 3.875% 30 year (24 years left) to a 2.875% 20 year. Total cost $500 after all fees and credits. If I read the numbers correct, this is just the interest cost to bridge the loan over to the new loan. Escrow waived, FICO 800+ Entire process is very smooth ...
by mt2k
Thu Jun 18, 2020 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Closed today with Quicken Loans through an agent I have used in the past.
Rate 2.99%, locked on 5/21 , 30 yrs, no closing cost, no escrow. I had to pay the prepaids $315.
Loan amount: $370K, 70% LTV
by mt2k
Wed Jun 17, 2020 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

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 mt2k
Tue Jun 16, 2020 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Okay so I went to Better and got the following offers: 3.125% 30yr fixed with $3,492 in credits and $2500 AMEX credit $1259 payment 3.000% 30yr fixed with $2,302 in credits and $2500 AMEX credit $1280 payment 2.875% 30yr fixed with $769 in credits and $2500 AMEX credit $1300 payment No matter how y...
by mt2k
Tue Jun 16, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

My friend is going through a no fee refi and the rate lock expires in 2 weeks. If they don't close before the rate close expires, would she be liable for any of the fees? e.g appraisal fees? Thanks. In general, if you have already paid for appraisal fee or any other fee, chances of getting a refund...
by mt2k
Mon Jun 15, 2020 12:54 pm
Forum: Investing - Theory, News & General
Topic: Leveraged Funds - Long UPRO v/s Short SPXU
Replies: 4
Views: 466

Re: Leveraged Funds - Long UPRO v/s Short SPXU

On a daily basis, shorting SPXU and going long UPRO are roughly the same and both should return roughly 3x of that day's s&p 500 return net of various costs (e.g. borrow for shorting SPXU as mentioned by ChrisBenn). They are very different things when held for more than one day because of the w...
by mt2k
Mon Jun 15, 2020 12:48 pm
Forum: Investing - Theory, News & General
Topic: Leveraged Funds - Long UPRO v/s Short SPXU
Replies: 4
Views: 466

Re: Leveraged Funds - Long UPRO v/s Short SPXU

Looks like SPXU costs about 1.2% to borrow -- https://iborrowdesk.com/report/SPXU That said, rates vary by broker, and can be changed at any time. And no idea how accurate that site is. Tax implications are tricky as well; there are special rules for shorts depending on your other holdings, and you...
by mt2k
Sat Jun 13, 2020 1:24 pm
Forum: Investing - Theory, News & General
Topic: Leveraged Funds - Long UPRO v/s Short SPXU
Replies: 4
Views: 466

Leveraged Funds - Long UPRO v/s Short SPXU

I know using leveraged funds are not Bogleheads way of investing and yet many people are doing so including me. I am invested in the HedgeFundie's adventure. I am not able to put my head around shorting a Short/Inverse Leveraged funds. What are the pros and cons on going short on SPXU as opposed to ...
by mt2k
Sat Jun 13, 2020 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Ask them to waive escrow. I would consider it worth it even if waiving increases lender costs a bit. Is it just as easy as asking. I thought you had to typically wait for mortgage to close, and then approach the lender/servicer to ask that they remove escrow account. That's been my experience. Just...
by mt2k
Thu Jun 11, 2020 1:18 pm
Forum: Investing - Theory, News & General
Topic: Why not 100% PSLDX?
Replies: 588
Views: 62914

Re: Why not 100% PSLDX?

Thanks everyone for this discussion! I am interested in getting into PSLDX as my core U.S. holding but am trying to figure out whether it is worth doing so 100% in a taxable account or if I'm better off simulating it in the ways previously discussed. My brokerage (Schwab) has a minimum $100K initia...
by mt2k
Wed Jun 10, 2020 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Hello, I am considering a first time refinance with the primary goal of lowering my payments per month and secondary goal of not increasing cost over the life of the loan. Scenario: Location: CA, property value 1.2m, credit 800 Original Loan 625k @ 3.625% fixed originated on 3/2013, 30 years. Curre...
by mt2k
Tue Jun 09, 2020 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Thought I’d share our recent experience on a refi. Submitted the inquiry beginning of April with Police and Fire Federal Credit Union (PA) and closed today. 20 year @ 3.125. No closing costs or fees. We originally locked in at 3.375, they reduced the rate to 3.25 during underwriting as rates droppe...
by mt2k
Tue Jun 09, 2020 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

I do find the way numbers are laid out to be odd however I can't find anything concrete to not go through the transaction. Hence, requesting a second pair of eyes. Your last payment was on 5/1 and your closing date is sometime in June. If your cash to close matches as below and no additions to the ...
by mt2k
Mon Jun 08, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Folks- I've found it really useful to hear about everyone else's experience (and I posted my specific refinancing questions on a different/prior thread)- but here is my recent refinancing experience after closing today. Loan amount ~550k ("high balance, conforming" in my region) Property ...
by mt2k
Mon Jun 08, 2020 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

nova148 wrote: Sun Jun 07, 2020 10:51 pm
(ii) Prepaid Interest from closing date to 7/30 (as first payment is due 8/1)
Your prepaid interest at closing should be calculated from closing date to 6/30
Mortgages are paid in arrears, so July's interest will be included in your first payment on 8/1.
by mt2k
Sat Jun 06, 2020 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

That is unfortunate. Did your local tax authorities ever send you any bills for the under payment? My property taxes have always been paid via escrow by a mortgage servicer. Call me paranoid, but I always check to make sure my my property taxes are paid up (and on time) with my town. It helps that ...
by mt2k
Sat Jun 06, 2020 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Update, While everything has gone relatively smoothly with Northpointe Bank and I still rec them, we close next week on a 15 yr fixed 2.5% no pts. We locked our rate on April 17. They told us 35-40 days to close. If we close on our scheduled apt it will be 55 days later... Last Friday I closed a co...
by mt2k
Sat Jun 06, 2020 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

That is one of the reason I insist on no-escrow mortgages. I don't trust these servicers to make tax, insurance and other payments on time. Or in your best interest. This is almost 20 years ago now, but I remember when my lender at the time didn’t calculate my escrow funding correctly (medium-lengt...
by mt2k
Fri Jun 05, 2020 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

Update, While everything has gone relatively smoothly with Northpointe Bank and I still rec them, we close next week on a 15 yr fixed 2.5% no pts. We locked our rate on April 17. They told us 35-40 days to close. If we close on our scheduled apt it will be 55 days later... Last Friday I closed a co...
by mt2k
Thu Jun 04, 2020 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

We close tomorrow with Chase who also carries our old loan. No, this is not via their fancy letter thing that some people are getting. I requested a payoff letter sort of late in the process to try to trigger an offer after starting discussions with them and reading comments here, but nothing mater...
by mt2k
Thu Jun 04, 2020 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

We close tomorrow with Chase who also carries our old loan. No, this is not via their fancy letter thing that some people are getting. I requested a payoff letter sort of late in the process to try to trigger an offer after starting discussions with them and reading comments here, but nothing mater...
by mt2k
Wed Jun 03, 2020 12:32 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

1. I use Fidelity and there are no issues. The first time you invest in a leveraged fund, you will be asked to sign a consent indicating you understand the risks. Signing is electronic, so once you sign you are good to go. When rebalancing, I use the multi-trade option available in Active Trader Pr...
by mt2k
Wed Jun 03, 2020 12:29 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

It’s done better than UPRO in the past and some people are hoping this will continue. Other posters in this thread have stated “greed” as their motivator for using TQQQ (no joke). If TQQQ underperforms UPRO for 1-2 years, I think they’ll drop it. Anyway, welcome mt2k, and good luck. It’s done bette...
by mt2k
Tue Jun 02, 2020 2:04 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

My plan is UPRO 35%, TQQQ 20% and TMF 45% with quarterly rebalancing. Wish me luck.Thanks. I went the same route a few weeks ago with a very small Roth IRA... intention is 27/27/46 UPRO/TQQQ/TMF. If doing pure TQQQ the optimal seems to be 52/48 but I wanted to hedge my bets a bit and split it betwe...
by mt2k
Tue Jun 02, 2020 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

by mervinj7 » Tue Jun 02, 2020 10:39 am TXGator wrote: ↑ Tue Jun 02, 2020 10:26 am I've got a 30 yr jumbo at 4.875% that closed about 16 months ago; all these low 3 / sub 3 rates are making me green with envy! :annoyed Yikes. Why haven't you refinanced already? In your position, I would have done t...
by mt2k
Tue Jun 02, 2020 11:10 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

:sharebeer hi Hi All, Long time lurker here and this is my first post. Many thanks to HedgeFundie to start this thread, posting his real and trackable investment, and providing with frequent updates. Many thanks to all the contributors supporting and opposing this investment approach. I have learnt...
by mt2k
Tue Jun 02, 2020 10:53 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

:sharebeer hi Hi All, Long time lurker here and this is my first post. Many thanks to HedgeFundie to start this thread, posting his real and trackable investment, and providing with frequent updates. Many thanks to all the contributors supporting and opposing this investment approach. I have learnt...
by mt2k
Tue Jun 02, 2020 10:52 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

:sharebeer hi Hi All, Long time lurker here and this is my first post. Many thanks to HedgeFundie to start this thread, posting his real and trackable investment, and providing with frequent updates. Many thanks to all the contributors supporting and opposing this investment approach. I have learnt...
by mt2k
Tue Jun 02, 2020 10:44 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

:sharebeer hi Hi All, Long time lurker here and this is my first post. Many thanks to HedgeFundie to start this thread, posting his real and trackable investment, and providing with frequent updates. Many thanks to all the contributors supporting and opposing this investment approach. I have learnt...
by mt2k
Tue Jun 02, 2020 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7990
Views: 557223

Re: Refinance Mega Thread

by mervinj7 » Tue Jun 02, 2020 10:39 am TXGator wrote: ↑ Tue Jun 02, 2020 10:26 am I've got a 30 yr jumbo at 4.875% that closed about 16 months ago; all these low 3 / sub 3 rates are making me green with envy! :annoyed Yikes. Why haven't you refinanced already? In your position, I would have done t...
by mt2k
Mon Jun 01, 2020 12:38 pm
Forum: Investing - Theory, News & General
Topic: Single Favorite Mutual Fund
Replies: 102
Views: 10947

Re: Single Favorite Mutual Fund

My 401K account does not have that many good, consistent performing low cost funds. The one that have made me money over the years is Fidelity Growth Company (FDGRX).

In my brokerage account I like PSLDX
by mt2k
Mon Jun 01, 2020 12:21 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 6741
Views: 646305

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

Hi All, Long time lurker here and this is my first post. Many thanks to HedgeFundie to start this thread, posting his real and trackable investment, and providing with frequent updates. Many thanks to all the contributors supporting and opposing this investment approach. I have learnt a lot reading ...