Bogleheads.org

ChiKid24

Just a general note (regardless of lender) that I personally feel that the inputted value for estimated home value likely plays a major role in determining eligibility for an appraisal waiver. It is my theory that if the inputted estimate value is higher (or within a certain $ or %) of what the aut...

ChiKid24

I'd pass on these offers and anything else that required points. For me, I look for true no cost loan options where the lender gives me a credit that covers all closing costs like title, appraisal, transfer taxes, etc. This means it's always a win for me and if rates fall further, I have no money su...

ChiKid24

I prefer ETFs in my taxable over mutual funds. For me, I find them easier to trade and tax loss harvest as needed. Mutual funds are only traded once a day at the end of day price. Some prefer that, I prefer the ability to make the trade ASAP at any point during the day. Among the ETFs, I rotate betw...

ChiKid24

Have you tracked the performance of your Wealthfront account? I mean actually calculated it not just looking at the returns they show on your dashboard. I have an account there that has grown to 6 figures and every year it lags the S&P, even taking into consideration the TLH benefit. I know that...

ChiKid24

People need to stop thinking the 4% rule means a 4% withdrawal rate. The rule says in year 1 of retirement you withdraw 4% of your portfolio. That's actually the only year when 4% matters. Then going forward you adjust that dollar amount of withdrawal up or down based on inflation, and continue to ...

ChiKid24

Thanks all. It seems risky if it's the former but may not be feasible if it's the latter as mentioned... especially in turbulent times. Would it matter if my retirement "number" was reached with a sudden increase in the market or would it be safer to wait for that number to become the ave...

ChiKid24

Can someone clarify if the 4% rule means you withdraw 4% of: balance on the day that you retire i.e. you retire with $1M and withdraw $40K/year regardless of future fluctuation in your base balance balance on the day you want to make an annual withdrawal The former, but adjusting for inflation each...

ChiKid24

Getting annoyed with Better - my loan was progressing fine, then they randomly reduced my lender credit by $700 with no explanation and haven't responded to emails for 6 days. On a side note has everyone closings been in person or virtual? I recommend saving your loan estimate immediately after you...

ChiKid24

I would vote no. I would be confident of a 4% withdrawal rate for a 30 year retirement in the current environment. But not very confident. To me very confident equals close to completely certain in its safety. To put it another way, if I was turning 60 today and had 25x my annual projected expenses...

ChiKid24

Question for all those smarter than I. This refinancing opportunity got me thinking about the bigger picture and how it all works. I'm going down from 3.5% to 3.0%, saving $300/month on my mortgage payments and getting a lender credit that is $2,500 more than all closing costs. I know the bank/brok...

ChiKid24

Question for all those smarter than I. This refinancing opportunity got me thinking about the bigger picture and how it all works. I'm going down from 3.5% to 3.0%, saving $300/month on my mortgage payments and getting a lender credit that is $2,500 more than all closing costs. I know the bank/broke...

ChiKid24

My wife and I have been thinking of buying a new house, but we are in no hurry since we are content with our current residence. As Covid 19 hit the US and the job losses followed, I said to my wife “let’s not rush, the prices are going to go down.” Now, I am staring to doubt myself, given the inter...

ChiKid24

Having worked in the pay tv industry, I can tell you it was only a matter of time before the TV like streaming services had to increase prices. The cost they pay for the content they provide is just too high to continue offering subscriptions at $30-$40, unless the package of content is limited (li...

ChiKid24

Having worked in the pay tv industry, I can tell you it was only a matter of time before the TV like streaming services had to increase prices. The cost they pay for the content they provide is just too high to continue offering subscriptions at $30-$40, unless the package of content is limited (lik...

ChiKid24

Can someone explain prepaids to me? I'm working with a broker. Original loan 3.375% on 780k 4 years ago. I have paid extra principal and have $677k remaining on loan. Payment is 3448/month New refi option - 3% 30 year, no fees/no cost. Lender credit matches up dollar for dollar on all costs, (title...

ChiKid24

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...

ChiKid24

For me, so far, it has been to Max out my 401K every year. :moneybag Yes, this for 20 years, a disciplined long term and knowledgeable approach, living well below my means always, and clear thinking as it relates to ANY financial decision. Was I supposed to have just one?? :D I used to think it was...

ChiKid24

I paid $550 (Appraisal) to lock with better. Just curious, I don’t think I will. But do you know if that is refunded if I break the lock before close? I know it’s refunded through Amex Promo once I close. But not sure if I break the lock. My original lender wants to beat better which I wasn’t expec...

ChiKid24

Really dumb question. Are you all letting multiple lenders run hard credit checks to give you rate quotes? I'd like to compare lenders but I'm finding that they all want to run credit before working with me on quotes. Really good question. I faced the same issue. I had several lenders refuse to giv...

ChiKid24

Good morning Bogle fam. I’m close to locking with better but have a question to ask. Hope I’m explaining it correctly and want to make sure the closing cost is correct. Closing cost (A+B+C=D $1750) Appraisal was $550(included in closing total). After all cost and lender credits. I get back -400 dol...

ChiKid24

They are well known. As their name implies, they are a wholesaler so you need to go through a broker. The broker will likely charge you a fee and the timing to close usually needs to be done in 3-4 weeks to get that pricing. There's a ton of information on them and other lenders in the Refinance Meg...

ChiKid24

This is great advice! Do you know the "certain limited circumstances" where the transfer taxes can increase or can you point me to the reg so I can read up? My initial loan estimate showed $328 in Section E for Recording Fees and Other Taxes". My latest loan estimate is now showing $...

ChiKid24

Closed today on an investment property refinance with Northpointe at 2.875/15y/0pts. About $3k closing costs; rolled everything in and took the max $2k cash out. It took about 70 days to close; process was slow but hassle-free. My thanks to the BH community for bringing Northpointe to my attention-...

ChiKid24

Please help a novice with a few basic questions. A - F is on a Loan Estimate which is a standardized form all lenders use. I’ve never gotten a decent offer or willingness to compete with another lender’s offer by Northpointe so I’ve never pushed them for an official Loan Estimate worksheet. That wo...

ChiKid24

Longtime lurker hoping to get some advice. Namely, are me and my spouse on track? I think we are, but want to make sure. He is 45, she is 37. Details (only including those relevant to question, as we don't need portfolio allocation advice): Tax: MFJ, 24%/5.75% His income: 170000 (federal employee) ...

ChiKid24

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...

ChiKid24

Has anyone had issues with your rate lock expiring at Better? I locked on 5/27 and am due to expire on 6/26 (30-day lock). They are running into delays getting subordination documentation/approval from Wells Fargo who holds my HELOC. Better just told me this today and say it's going to cost me $146/...

ChiKid24

How can I verify with the potential lender that it will be a truly no cost event? Any loan can be no cost if you are willing to take a higher rate to get a credit to cover the closing costs. Get a loan estimate and look at the costs in Sections A, B, C and E. Total those up and see what kind of cre...

ChiKid24

Shouldn't I wait and see if I can get a no cost 15 yr note 1 1/2-2 % less than my current 4%? I always thought that was the rule to follow. If it's truly no cost then any drop from your current rate is helpful as you are paying less interest. I'd get pricing to do it now, and since it's no cost, yo...

ChiKid24

We are refinancing our home, and I'm trying to work out whether to do a no-cost refi or pay points for a lower rate. Situation: Loan would be for ~$670k; LTV ~0.6. FICO 760+. Super-conforming. We're going to be in this house forever (or let's assume so). LenderFi is offering a no-cost at 3.0%, no p...

ChiKid24

I am currently reading the Brian Burke book and highly recommend it. It's called The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications. Here's link on amazon: https://www.amazon.com/dp/B086HSGYFM/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 Thanks Bobby. Fr...

ChiKid24

I'll add another LenderFI data point. We recently locked in a 30-year fixed conventional refi at 3.125% for a loan amount of ~220k and LTV of ~73%. Total out of pocket fees will be ~$125 (lender credit covers the rest and our appraisal was waived). The loan officer we spoke to confirmed that their ...

ChiKid24

I just read that American Express Small Business Cards is not eligible. Bummer. I should learn to read the details before jumping the gun. Has anyone applied recently for Blue cash everyday card and gotten approved for the $2500 better deal? Thanks You need to receive a targeted e-mail to be eligib...

ChiKid24

Slow and steady wins the race. While taking on debt to make an investment is a strategy, it's risky so you should make sure you understand that going in. Curious though, what made you decide to pay cash for the condo in the first place? What has changed that now makes you believe it's better to have...

ChiKid24

Okay so I went to Better and got the following offers: 3.125% 30yr fixed with $3,492 in credits and $2500 AMEX credit $1300 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 $1259 payment No matter how y...

ChiKid24

Just got notification my Marcus Savings is now down to 1.05% vs 1.30%. This follows similar trends I'm seeing at other banks.

ChiKid24

Last minute gifts from family members tend to make mortgage underwriters very, very nervous. I don't care how they feel, as long as I get the loan at the rate I want. Are you suggesting the deal won't go through? To be clear, the none of the gift will be used for the down payment, just to meet the ...

ChiKid24

Locked today with Better for 3% 30 yr fixed with ~$3,500 credit. Was also offered 2.875% with ~$2,100 credit. Used a competing offer from UWM to match and Better beat it. After factoring in the $2,500 AMEX credit this should be a pretty lucrative refi (currently at 3.5%). This is almost the same ex...

ChiKid24

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...

ChiKid24

I locked rate with Sebonic yesterday for a refi with 2.74% interest for 15 year. Total closing costs is ~$2400 rolled into the loan including appraisal (already paid) and origination fee (~$1000) I just heard about LenderFi when I browsed this thread. I looked up their rate and I can get similar ra...

ChiKid24

For whatever reason, I saw a huge drop in rates from LenderFi yesterday. Received a loan estimate on a 30 year fixed for 2.75% with ~$700 in total closing costs. $1500 in lender credits, appraisal waived. I'm seeing same as well. FOMC meeting yesterday Correct. They signaled 0% rates likely extendi...

ChiKid24

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...

ChiKid24

Thank you. I use TT currently, but don't see a way of looking at estimated Taxable Income in the TaxCaster tool. The 1040 Calculator link is really good though, so I think that will serve my purpose. Projecting a conversion target is a good idea, but honestly I think we'll only be able to do it this...

ChiKid24

I was wondering if there are any tools out there to help determine how much room you have for a Roth conversion at year end? My wife and I have income from a variety of sources (W-2 wages, unemployment, dividends, interest, realized capital gains) and also itemize deductions, so it would be helpful ...

ChiKid24

Make sure you do your own square footage calculation. Many inspectors rely on public record rather than taking their own measurements. That can be a costly mistake when you look to sell down the road which I learned the hard way on my first home.

ChiKid24

I am ready to stop working. If you are planning for a 30 to 40 year retirement and you have 25X living expenses saved, You are good to go! Especially since you’ll have some Social Security, 25X is plenty safe especially if you have at least 50% equities. How old are you? How much do you have saved?...

ChiKid24

... The implied return rates are higher than any money market, there is no market risk, and the money is FDIC insured. My CapitalOne in process will pay me a $500 bonus, plus 1.3% interest (currently) on the balance, simply by keeping the money there for roughly 6 months. That's over a 3.3% annuali...

ChiKid24

Why not a no penalty CD? Locks in a rate for a year in a declining interest environment. I didn't want to open up another account, but hindsight 20/20 it might have been worth it I play the savings bonus game with my emergency fund, which covers a year plus of expenses. Usually split between 2 or 3...

ChiKid24

Why not a no penalty CD? Locks in a rate for a year in a declining interest environment. I didn't want to open up another account, but hindsight 20/20 it might have been worth it I play the savings bonus game with my emergency fund, which covers a year plus of expenses. Usually split between 2 or 3...

ChiKid24

I'm really aggressive in the way I invest in my HSA, 100% equities. My plan was to just use it to pay my MediCare premiums in retirement, at that point I'll have a glide path down the something less volatile. I assume that will draw most all of it down through retirement, I don't keep receipts now,...

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