Search found 2420 matches

by BrandonBogle
Fri Jun 05, 2020 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Ok, I didn't realize that the closing disclosure were permitted to be used. I've requested a closing\settlement statement few times and Better has not once mentioned that Closing Disclosures are permitted. The other issue I am having is they wont' change the title company that I have requested. The...
by BrandonBogle
Fri Jun 05, 2020 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Advice: 4.5% to a 2.75% on a 30 year loan
Replies: 9
Views: 905

Re: Refinance Advice: 4.5% to a 2.75% on a 30 year loan

I see.. So its the general consensus to not pay any closing cost. Settle with the slightly higher rate. Then just refi again when or if rates fall lower? (if not clawbacks) We do plan to stay at this house for the next 10 plus years. Sorry OP for highjacking your thread. I like to instead say to no...
by BrandonBogle
Fri Jun 05, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: My Penfed 5/5 ARM just adjusted down to 2.25%
Replies: 11
Views: 2277

Re: My Penfed 5/5 ARM just adjusted down to 2.25%

Will ARM's be the best decision moving forward? Only way to know is hindsight, but you are saving money due to taking on addition risk and the bank is saving by giving you the additional risk. With rates around 3% nowadays, I am not sure why I would consider a non-fixed mortgage product to save 0.5...
by BrandonBogle
Fri Jun 05, 2020 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Before closing you suppose to receive a closing\settlement statement a few days before closing correct? I have only received a closing disclose from Better. For a couple years now, page 2 of the Closing Disclosure is permitted to be used in lieu of a HUD-1 settlement statement. My last two lenders,...
by BrandonBogle
Fri Jun 05, 2020 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

I've never heard of UWM so I didn't know if it was a scam or what not. or if its one of those to good to be true thing. Yeah, not a too good to be true, but very strict on their member brokers. This Conquest program they have going only allows for rate locks from 8-22 days vs. the more typical 30, ...
by BrandonBogle
Fri Jun 05, 2020 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Advice: 4.5% to a 2.75% on a 30 year loan
Replies: 9
Views: 905

Re: Refinance Advice: 4.5% to a 2.75% on a 30 year loan

dumb question: since they raise your interest to a 3.0 with no points. Does that mean they added closing cost to your loan amount? example: old loan is 272k new loan is 276k Thanks.. i'm new to all this and just trying to understand everything What they typically do is either add lender credits in ...
by BrandonBogle
Fri Jun 05, 2020 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Pay fee to lock rate?
Replies: 4
Views: 368

Re: Pay fee to lock rate?

Am I wrong to feel like I am being set up for a bait and switch? Don’t take this personally, but yes. If their policy is not to lock until you’ve paid the appraisal deposit, which many lenders (though not all do), the numbers can vary greatly, even on the same day. I’ve seen where writhing five hou...
by BrandonBogle
Fri Jun 05, 2020 2:32 am
Forum: Personal Finance (Not Investing)
Topic: Airline refusing to issue refunds
Replies: 160
Views: 13820

Re: Airline refusing to issue refunds

Delta has been great. I had several international flights that were cancelled and after a short call with customer service, the refunds hit my credit card in days. I keep hoping one day I’ll magically see my NY ticket switch from an eCert to refund. But I was the one who cancelled it well before th...
by BrandonBogle
Fri Jun 05, 2020 2:27 am
Forum: Personal Finance (Not Investing)
Topic: Refund of Credit card Annual fee due to Covid
Replies: 6
Views: 541

Re: Refund of Credit card Annual fee due to Covid

I did not get the AMEX until Jan this year. The fee will hurt a little, but they extended the window for everyone to at least get the 100K bonus points. Yeah, I got the Delta Platinum in Feb. I’m not going to bother trying to get that $250 waived. The bonus Skymiles were worth it. Though now I need...
by BrandonBogle
Fri Jun 05, 2020 2:17 am
Forum: Personal Investments
Topic: Vanguard Prime Money Market vs. Short Term Federal Bond Fund
Replies: 7
Views: 653

Re: Vanguard Prime Money Market vs. Short Term Federal Bond Fund

Why did you harvest IRA funds into taxable account instead of Roth conversions for tax free growth? For her, it makes no difference. She’s paid $0 in taxes (except 2018 when I miscalculated and she ended with a $12 bill) for around a decade now. So we went with Roth such that if she ever left anyth...
by BrandonBogle
Fri Jun 05, 2020 2:14 am
Forum: Personal Finance (Not Investing)
Topic: Refund of Credit card Annual fee due to Covid
Replies: 6
Views: 541

Re: Refund of Credit card Annual fee due to Covid

I hadn’t used the benefits on my AA Aviator Red in the past year, and with all my trips now cancelled, would in 2020 either. Called when my annual $99 showed up, explained that I haven’t been using the benefits and the $99 doesn’t bring worthwhile benefits to me at this time. She said nada, we can’t...
by BrandonBogle
Fri Jun 05, 2020 12:36 am
Forum: Personal Investments
Topic: Vanguard Prime Money Market vs. Short Term Federal Bond Fund
Replies: 7
Views: 653

Re: Vanguard Prime Money Market vs. Short Term Federal Bond Fund

About how old is she? RMDs start next year (I think - new legislation may have delayed it though), though it won’t really matter as the IRA will be most drained by then as we harvest it to taxable each year with the head room available for $0 tax due. I wonder if she would be a good candidate for a...
by BrandonBogle
Thu Jun 04, 2020 11:48 pm
Forum: Personal Investments
Topic: Vanguard Prime Money Market vs. Short Term Federal Bond Fund
Replies: 7
Views: 653

Re: Vanguard Prime Money Market vs. Short Term Federal Bond Fund

retired@50 wrote:
Thu Jun 04, 2020 11:43 pm
I'd reverse the ratios and hold 85% of my fixed income in the total bond fund and 15% of my fixed income in cash.

Regards,
In essence what I thought about doing, only talking Short Term Federal vs. Total Bond. Thanks!
by BrandonBogle
Thu Jun 04, 2020 11:42 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff Mortgage with HELOC
Replies: 11
Views: 847

Re: Payoff Mortgage with HELOC

Normally I agree, but the risk is far greater for normal people using a HELOC as an emergency fund when they also have a substantial 1st lien. The OP is talking about substituting the HELOC for the current mortgage with a low LTV. Although, my calculation before was based on the LTV even though I h...
by BrandonBogle
Thu Jun 04, 2020 10:21 pm
Forum: Personal Investments
Topic: Vanguard Prime Money Market vs. Short Term Federal Bond Fund
Replies: 7
Views: 653

Vanguard Prime Money Market vs. Short Term Federal Bond Fund

My mother and I were going over her accounts and we noticed the Prime Money Market (VMXXX) has gone down significantly in yield over the past few months. Understandable and it is what it is. So we thought about options. This will be in a Traditional IRA. If she is unwilling to go through the effort ...
by BrandonBogle
Thu Jun 04, 2020 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: My Penfed 5/5 ARM just adjusted down to 2.25%
Replies: 11
Views: 2277

Re: My Penfed 5/5 ARM just adjusted down to 2.25%

Black Jack, now that your loan has aged another 5 years, what is your new rate? Or do you no longer hold the 5/5 ? I just refi'd out of my 5/5 (2.875% for two more years) and wonder how well others are doing with their PenFed 5/5s.
by BrandonBogle
Thu Jun 04, 2020 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Thanks. When shopping around, is it advised to get individual quotes with a credit pull? I've been just comparing rates based on rate quotes that only require answering a few questions without a credit pull (Better.com being the sole exception, but they were only doing a soft credit pull). You will...
by BrandonBogle
Thu Jun 04, 2020 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

When you submit an application to LenderFi.com, Owning.com, Rate.com, etc., how long do they usually take to generate a Loan Estimate? Better.com was able to instantly generate one (but rates weren't competitive), but I'm not sure if that's the norm. If they consider you to have formally applied, t...
by BrandonBogle
Thu Jun 04, 2020 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff Mortgage with HELOC
Replies: 11
Views: 847

Re: Payoff Mortgage with HELOC

The banks don't actually "close" the HELOC. They can and have reduced the credit limit of the HELOC to the current balance. This was done in great recession, when home prices plummeted such that the LTV of the (1st lien + HELOC) became >= 100%. While they can do this based on a change in risk profi...
by BrandonBogle
Thu Jun 04, 2020 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

rayandron, I’ve seen plenty of VA loan offers for 2.75% (didn’t keep track if they were 15-year or 30-year though). Have you cross-shopped getting a VA loan from places other than Navy Federal? Don't have access to VA loans as I'm not a veteran. Am an NFCU member due to my parents' service. Ahh, go...
by BrandonBogle
Thu Jun 04, 2020 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

rayandron,

I’ve seen plenty of VA loan offers for 2.75% (didn’t keep track if they were 15-year or 30-year though). Have you cross-shopped getting a VA loan from places other than Navy Federal?
by BrandonBogle
Thu Jun 04, 2020 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: better.com matching refinance offer
Replies: 3
Views: 362

Re: better.com matching refinance offer

Better will use the cost worksheet from Northpointe. Better wants a LE to see what all costs are involved and Better beats for the same rate on the basis of all lender costs. To do so, they need a breakdown of the costs to work up the number they need to beat.
by BrandonBogle
Thu Jun 04, 2020 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance or pay off loan?
Replies: 5
Views: 341

Re: Refinance or pay off loan?

First, refi at no-cost to around 3%, go up or down as necessary to get a no-cost mortgage. Second, calculator with the new interest rate how much extra you need to pay each month so the new mortgage finishes no later than the old one would have. Third, invest the $190k accordingly. It need not all b...
by BrandonBogle
Thu Jun 04, 2020 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff Mortgage with HELOC
Replies: 11
Views: 847

Re: Payoff Mortgage with HELOC

If the only reason you took a small mortgage was to keep liquidity, and you are now confident that you will no longer need that liquidity, then pay it off. Otherwise do nothing. True. I guess I see the HELOC as still providing access to equity, if I ever wanted it immediately. And I can push emerge...
by BrandonBogle
Thu Jun 04, 2020 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Pros/cons of utilizing mortgage deferral
Replies: 49
Views: 1940

Re: Pros/cons of utilizing mortgage deferral

On the advice of my banker, I put all my rental properties into forbearance back in April. It hasn't affected my credit score thus far. It will not affect your score, period (unless someone makes a mistake and only until that mistake is corrected). However, if you tried to get approved for a mortga...
by BrandonBogle
Thu Jun 04, 2020 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Diisclosure info: Costs (A+B+C): 825.52 (did not shop) Other Costs (E+F+G+H): 5004.79 Paid by Others: 1289.92 (I don't really understand where this lender credit come from.... but :sharebeer ) Good deal word! What was the costs specifically in Section E? That is not prepaids not escrow, yes governm...
by BrandonBogle
Thu Jun 04, 2020 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Diisclosure info: Costs (A+B+C): 825.52 (did not shop) Other Costs (E+F+G+H): 5004.79 Paid by Others: 1289.92 (I don't really understand where this lender credit come from.... but :sharebeer ) Good deal word! What was the costs specifically in Section E? That is not prepaids not escrow, yes governm...
by BrandonBogle
Thu Jun 04, 2020 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Pros/cons of utilizing mortgage deferral
Replies: 49
Views: 1940

Re: Pros/cons of utilizing mortgage deferral

From my point of view, the OP’s family has lost one income source and there will be a time in the next few months where the sole breadwinner will stop working. This may not mean no income (depends on benefits at wife’s company), just that the job is guaranteed during maternity leave. As such, the Op...
by BrandonBogle
Thu Jun 04, 2020 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Pay fee to lock rate?
Replies: 4
Views: 368

Re: Pay fee to lock rate?

If it’s the kind of terms that if no other lender would beat and you would still take, then I would go ahead and lock to avoid downside risk. A small price to pay.
by BrandonBogle
Thu Jun 04, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Question on 6 month clawback of lendercredit for anyone who used LenderFi in the past. I refinanced with them just over 3 months ago and they had me sign a form stating I didn't intend to refinance again within 6 months. Since then they sold my mortgage and passed on the servicing to Wells Fargo. A...
by BrandonBogle
Wed Jun 03, 2020 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Closing is scheduled 6/5/2020 and I am paying for all closing costs. The want me to bring $3,103.93, not sure where they are getting $3,103.93 from? ... Shouldn't the payoff for my currently loan be $242,023.76 ( $241,759.26 + $264.5($26.45 x 10days)) and not $242,943 ? Am I not seeing something, w...
by BrandonBogle
Wed Jun 03, 2020 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

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. .....
by BrandonBogle
Wed Jun 03, 2020 4:56 pm
Forum: Personal Investments
Topic: Admiral shares for Financial Services Industry employees
Replies: 20
Views: 762

Re: Admiral shares for Financial Services Industry employees

It is my recollection that Vanguard may allow transfer of an existing actively managed Admiral Class fund to another brokerage, such as Wells Trade or Fidelity, but may not allow opening an admiral class share at another brokerage. Just a note that I agree with this as being a potential direction f...
by BrandonBogle
Wed Jun 03, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Can someone explain briefly in layman terms what and how UWM works? UWM is a wholesale lender. They will NOT work with you directly. Instead, they are basically the investor for a mortgage one of their member brokers originate. By cutting out the expenses of working directly with the clients and ha...
by BrandonBogle
Wed Jun 03, 2020 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

With one I said intent to proceed, with two others quotes, this is apart of Better, That is what freaked them out. Now they want proof you aren’t actively proceeding with another lender. Rate shopping is one thing, but the “intent to proceed” triggers them to move forward with things such as title ...
by BrandonBogle
Wed Jun 03, 2020 2:37 pm
Forum: Personal Investments
Topic: Admiral shares for Financial Services Industry employees
Replies: 20
Views: 762

Re: Admiral shares for Financial Services Industry employees

zubinh wrote:
Wed Jun 03, 2020 2:36 pm
It's Vanguard's policy that actively managed admiral shares not be available to retail clients outside of Vanguard
Someone may want to tell that to WellsTrade

Image
by BrandonBogle
Wed Jun 03, 2020 2:03 pm
Forum: Personal Investments
Topic: Admiral shares for Financial Services Industry employees
Replies: 20
Views: 762

Re: Admiral shares for Financial Services Industry employees

My mother holds Wellsley in her brokerage account outside Vanguard. Is there a particular reason why some Adminal funds are available to you and this one isn't? I wonder if it matters that Wellsley is active-managed vs. passive? Just seems odd to allow some and not all.
by BrandonBogle
Wed Jun 03, 2020 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

While I was shopping around and encountered a few lenders that would not lock the rate until conditionally approved. While that doesn't take long, I wasn't going to take the risk. I took my business elsewhere and ended up happy I did. While I could now get a better rate than what I got, I'm still h...
by BrandonBogle
Wed Jun 03, 2020 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding the Line Items of a Refinance No Closing Costs Loan
Replies: 41
Views: 1949

Re: Understanding the Line Items of a Refinance No Closing Costs Loan

Odd the current lender couldn't simply explain the interest in arrears. My principle payoff amount went up around $960 due to interest in arrears for ~40 days. That happens often. Often the payoff quotes are good for 10 days or so and if that extends into the next month, it is calculated based on t...
by BrandonBogle
Wed Jun 03, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance for 0.25% rate reduction
Replies: 14
Views: 773

Re: Refinance for 0.25% rate reduction

A Boglehead should not be extending their term, except maybe on paper. I would remain flexible on this. Assume that it is possible to earn an after-tax rate that is greater than 3% from a bank account at some point in the future. During that time period, paying the mortgage off faster than required...
by BrandonBogle
Wed Jun 03, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

While I was shopping around and encountered a few lenders that would not lock the rate until conditionally approved. While that doesn't take long, I wasn't going to take the risk. I took my business elsewhere and ended up happy I did. While I could now get a better rate than what I got, I'm still ha...
by BrandonBogle
Wed Jun 03, 2020 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Refinance for 0.25% rate reduction
Replies: 14
Views: 773

Re: Refinance for 0.25% rate reduction

One possible “catch” is that you may be required to keep the loan for a while (6 months is common) or pay a penalty if you don’t do so. If your offer has such conditions, you have to decide if a 0.25% rate reduction is worth taking the chance that rates go down further and you’re unable to capitali...
by BrandonBogle
Wed Jun 03, 2020 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Refinance for 0.25% rate reduction
Replies: 14
Views: 773

Re: Refinance for 0.25% rate reduction

I am asking this because many refinance articles mention that refinance is not good unless you get 1% rate reduction or reduced loan term to save. In fact, I end up paying extra $30k if I just refinance with 0 closing cost and 0.25% rate reduction if I pay new monthly. It took me time to understand...
by BrandonBogle
Wed Jun 03, 2020 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Would you be motivated to refinance this loan?
Replies: 16
Views: 740

Re: Would you be motivated to refinance this loan?

Zero cost on the lender side??? Or zero out of pocket at closing (title, recording,appraisal, etc)??? The worst part of the Refi process to me is the pricing dance with banks & brokers. Sucks up otherwise productive time. The bank holding my current note, Wells Fargo, quoted me 3.25% yesterday on a...
by BrandonBogle
Wed Jun 03, 2020 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Would you be motivated to refinance this loan?
Replies: 16
Views: 740

Re: Would you be motivated to refinance this loan?

Was quoted 2.50% - 2.625% + told to assume needing ~5k at closing (sounds high). Does that include escrow and interest prepaid? What is the Total Closing Costs on your Loan Estimate minus everything in Sections F and G ? Haven't formally applied anywhere yet. We haven't escrowed in more than 10 yea...
by BrandonBogle
Wed Jun 03, 2020 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Would you be motivated to refinance this loan?
Replies: 16
Views: 740

Re: Would you be motivated to refinance this loan?

Buddy0329 wrote:
Wed Jun 03, 2020 9:35 am
Was quoted 2.50% - 2.625% + told to assume needing ~5k at closing (sounds high).
Does that include escrow and interest prepaid? What is the Total Closing Costs on your Loan Estimate minus everything in Sections F and G ?
by BrandonBogle
Wed Jun 03, 2020 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

What are some people's experiences with Rocket Mortgage? Do they have competitive rates? I live in Virginia and am in the process of trying to refinance my home. I want to take advantage of the AMEX offer but Virginia is not covered by Better.com but is covered by Rocket Mortgage. Am thinking of as...
by BrandonBogle
Tue Jun 02, 2020 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

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 BrandonBogle
Tue Jun 02, 2020 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1692
Views: 153298

Re: Refinance Mega Thread

Is this a decent rate or should I wait? 2.625% 30yr $189k loan Closing cost $3364 (excludes prepaids) Don’t pay any closing costs, you might be refinancing again when the rates get even lower. I am currently at 2.75% 15yr on a $200K loan. I was offered a 3% 30 yr for $2300 closing cost or 3.125% 30...
by BrandonBogle
Tue Jun 02, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding the Line Items of a Refinance No Closing Costs Loan
Replies: 41
Views: 1949

Re: Understanding the Line Items of a Refinance No Closing Costs Loan

Odd the current lender couldn't simply explain the interest in arrears. My principle payoff amount went up around $960 due to interest in arrears for ~40 days. That happens often. Often the payoff quotes are good for 10 days or so and if that extends into the next month, it is calculated based on t...