Search found 342 matches

by ChiKid24
Mon Aug 17, 2020 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1638
Views: 152306

Re: My LenderFi refinance is going well

Closed on my refinance last week and funding was slated for today. I didn’t receive any confirmation that funding occurred and didn’t get any responses from the lenderfi folks, so I’ll just go to bed crossing my fingers that it all went through and that I’ll wake up to see the payment on my current...
by ChiKid24
Mon Aug 17, 2020 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2397
Views: 546632

Re: Share your net worth progression

After reading thru these posts I have come to the conclusion that I need to save more...😀 Probably wrong but I haven't tracked my net worth just my 401k for the last few years. Really didnt start saving alot (besides my 401k) until about 5yrs ago. I have a taxable account and a Roth IRA now though....
by ChiKid24
Mon Aug 17, 2020 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2397
Views: 546632

Re: Share your net worth progression

I've been following this thread for some time and find it inspiring. I started tracking my account balances back in 2007 when I was 30. Most of my years before then were spent in school (4 years college, 4 years grad school). The numbers and tracking has been fine tuned over the years so more recent...
by ChiKid24
Sun Aug 16, 2020 10:50 pm
Forum: Personal Investments
Topic: Is it time to hold cash instead of Bonds?
Replies: 76
Views: 11196

Re: Is it time to hold cash instead of Bonds?

I've been playing the bank bonus game as a way to guarantee higher yield than CDs and HY Savings accounts. Example: I put $50k into Cap One Savings that pays a $500 bonus by keeping the money there for three months. Its FDIC insured, doesn't impact my credit and the interest rate was at 1.3% when I ...
by ChiKid24
Sun Aug 16, 2020 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Still haven’t heard back from WM. Initial offer was 2.5 no cost no escrow 30 years. After the 0.5 news came out. Haven’t heard from my LO after multiple attempts. Decided to talk to owning.com The best he can do is 2.625 30years $900. No escrow. I currently am at 2.875. It’s will save me around $40...
by ChiKid24
Sat Aug 15, 2020 12:58 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Congrats. Would suggest to you and anyone else to make sure to check your post-closing calculations based on the actual day the loan funds. You will typically get a refund back from your old lender as well as the new. In the closing docs the new lender typically includes a few extra days of interes...
by ChiKid24
Fri Aug 14, 2020 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Home Appraisal in the times of COVID
Replies: 20
Views: 2109

Re: Home Appraisal in the times of COVID

We had an in house appraisal done. We opened all doors and windows in the house and turned on all the lights. I asked the guy to text when he got here and wear a mask the entire time. I opened the front door when he arrived to let him in then I went straight to the back yard while he did his work. M...
by ChiKid24
Fri Aug 14, 2020 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

My second refi of 2020 closed today, without any major issues. It was a bit of a bumpy ride. The person working my file for closing was nowhere near as responsive and effective as my loan officer. So up until 15 minutes before closing, there were still revisions to my closing disclosures. My loan a...
by ChiKid24
Fri Aug 14, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

My wife and I just decided to refinance, to take advantage of low rates. Of course, my first step is to check in at the Bogleheads forum to get the lay of the land and advice that fits my approach to finances and investing. This thread, unfortunately, is rather overwhelming. I expect that it contai...
by ChiKid24
Fri Aug 14, 2020 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Refinance General Question on what to do
Replies: 9
Views: 704

Re: Refinance General Question on what to do

Do you have any other debt at higher interest like student loans, car loan, etc.? If so, you could take out the 75k and use the extra to pay those off. Agree your rate is pretty high, even with the credit.
by ChiKid24
Fri Aug 14, 2020 12:08 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

ChiKid24 wrote: ↑Thu Aug 13, 2020 6:33 pm sabhen wrote: ↑Thu Aug 13, 2020 6:11 pm Being offered 2.375% with 2 points with Rocket Mortgage (30 year fixed). Need to decide today. Loan amount: $490k, House value estimate: $850k in CA. Estimated costs: $10k. Monthly saving: $139. payback: 72 month (6 y...
by ChiKid24
Fri Aug 14, 2020 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Being offered 2.375% with 2 points with Rocket Mortgage (30 year fixed). Need to decide today. Loan amount: $490k, House value estimate: $850k in CA. Estimated costs: $10k. Monthly saving: $139. payback: 72 month (6 years). I need to decide today. Thoughts? That's a lot of points and a pretty high ...
by ChiKid24
Thu Aug 13, 2020 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Being offered 2.375% with 2 points with Rocket Mortgage (30 year fixed). Need to decide today. Loan amount: $490k, House value estimate: $850k in CA. Estimated costs: $10k. Monthly saving: $139. payback: 72 month (6 years). I need to decide today. Thoughts? That's a lot of points and a pretty high ...
by ChiKid24
Thu Aug 13, 2020 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

https://twitter.com/NickTimiraos/status/1293706997297184772?s=20 http://www.mortgagenewsdaily.com/consumer_rates/951943.aspx "The FHFA, Fannie and Freddie's regulator, is implementing a new price adjustment for all refinance transactions of 0.5% of the loan amount (i.e. $1500 on a $300k loan)....
by ChiKid24
Wed Aug 12, 2020 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

https://twitter.com/NickTimiraos/status/1293706997297184772?s=20 http://www.mortgagenewsdaily.com/consumer_rates/951943.aspx "The FHFA, Fannie and Freddie's regulator, is implementing a new price adjustment for all refinance transactions of 0.5% of the loan amount (i.e. $1500 on a $300k loan)....
by ChiKid24
Wed Aug 12, 2020 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Private University Apartments Leases during Covid
Replies: 64
Views: 3966

Re: Private University Apartments Trapping Students in Expensive Leases

I just had to pay the first months' rent because it may damage my family's credit history to simply not pay the rent. But it is not feasible to continue the whole year this way. Why is it not feasible? Presumably in February you had some plan to pay for the rent this year? So you can pay it, it is ...
by ChiKid24
Wed Aug 12, 2020 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance: Who have you closed with? What was the experience like?
Replies: 6
Views: 722

Re: Refinance: Who have you closed with? What was the experience like?

Closed on a refinance with Better on 7/9 and then on another with Lenderfi on 8/6. My experiences on each below: Better Process from lock to signing was 6 weeks and 1 day (lock 5/27, sign 7/9) Their initial rate was not great, but that became competitive and offered me compelling value after I submi...
by ChiKid24
Tue Aug 11, 2020 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

UWM announced today they will offer 1.99 30yr mortgages. No idea how many points that will require. Spoke to a local broker about this and it's definitely not no cost. His words: "It's about 2.5-3 points to buy down. You have to had never done a loan with UWM for 18 months and the max rate loc...
by ChiKid24
Tue Aug 11, 2020 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

UWM announced today they will offer 1.99 30yr mortgages. No idea how many points that will require. Where can we find who is going to offer this? Looks like their website is mostly targeted for brokers. Keystone is a good broker for UWM. I worked with someone there and she was very responsive, thou...
by ChiKid24
Tue Aug 11, 2020 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Can a home refi be canceled in mid-process?
Replies: 3
Views: 486

Re: Can a home refi be canceled in mid-process?

A family member started a home refi with New American Funding over a month ago. The process started out okay, now communications to them has severely lacked. They also stated their Wi-Fi is down (not sure I believe that). She has sent all her paperwork, documentation, statements over but hasn't pai...
by ChiKid24
Tue Aug 11, 2020 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Here are some data points for me: Looking to refinance a $310,000 outstanding mortgage balance on townhome (shared walls) in California. Owning They could not offer an appraisal waiver, so they declined to offer me anything (after verbal quote of 2.875, no cost) Better 2.5%, 30 year fixed, LTV 33% ...
by ChiKid24
Tue Aug 11, 2020 9:17 am
Forum: Personal Investments
Topic: Is not making early mortgage payments a good hedge against inflation?
Replies: 20
Views: 2190

Re: Is not making early mortgage payments a good hedge against inflation?

I pretty much have a low cost three fund portfolio(70 US/10 Int/20 total US Bond) but have been seeing lots of talk about adding TIPS recently because of low interest rates and fears of inflation. Our emergency fund has grown larger than I would like and I am concerned about cash drag. I want to co...
by ChiKid24
Tue Aug 11, 2020 12:33 am
Forum: Personal Investments
Topic: Is not making early mortgage payments a good hedge against inflation?
Replies: 20
Views: 2190

Re: Is not making early mortgage payments a good hedge against inflation?

I pretty much have a low cost three fund portfolio(70 US/10 Int/20 total US Bond) but have been seeing lots of talk about adding TIPS recently because of low interest rates and fears of inflation. Our emergency fund has grown larger than I would like and I am concerned about cash drag. I want to co...
by ChiKid24
Mon Aug 10, 2020 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Loan depot and got a locked rate at 2.25% for (high) conventional refinance today (15 years). No points and no cost. Have been living in the single family home for 11 years. Based upon Zillow and ..... current mortgage is about 30% of value. Located in Seattle WA. We started the application process...
by ChiKid24
Mon Aug 10, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

What's the latest on which mortgage firms have `clawback' provisions vs not? So far it seems like LenderFi *does*, Better does *not*. Any other data points out there? I'm going through LenderFi right now and haven't seen anything about a clawback. You should have or will sign a "No sale clause...
by ChiKid24
Mon Aug 10, 2020 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Greetings Bogleheads, I have applied for refinancing with LenderFi, Better and a local broker and the results are not as good as I expected. I would appreciate any feedback on this and would like to better understand the process. Our data: Remaining mortgage amount: 145 K Property value: 600 K (tow...
by ChiKid24
Mon Aug 10, 2020 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

I have a quick question. I was offered 2.5% no cost refinance by both owning and lenderfi. I started process with owning and submitted my signatures and docs but the loan officer is saying she cannot lock until after the appraisal which will take 5-7 days but that I shouldnt' be worried and that I ...
by ChiKid24
Mon Aug 10, 2020 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

If two lenders are offering the same interest rate, you just compare the sum of A+B+C+E less lender credits to determine which offer is better. I agree with this. However in practice, section E can also be manipulated. This actually represents the amount you get charged by the government agency to ...
by ChiKid24
Sun Aug 09, 2020 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Here are some data points for me: Looking to refinance a $310,000 outstanding mortgage balance on townhome (shared walls) in California. Owning They could not offer an appraisal waiver, so they declined to offer me anything (after verbal quote of 2.875, no cost) Better 2.5%, 30 year fixed, LTV 33% ...
by ChiKid24
Fri Aug 07, 2020 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1638
Views: 152306

Re: My LenderFi refinance is going well

I admit I was kind of bummed to learn that others were getting 2.75% 30 year no cost or lower when I was “only” getting 2.875%. Then again, I was at 4.125% this past December. The Refi game seems to always move the goal post as soon as you lock in. Doing the math, however, there’s really not that m...
by ChiKid24
Fri Aug 07, 2020 5:50 pm
Forum: Investing - Theory, News & General
Topic: Carry on or Take your toys and go home ?
Replies: 102
Views: 9433

Re: Carry on or Take your toys and go home ?

There has been dysfunction in Washington and rising debt for as long as I can remember. New Covid cases/deaths/hospitalizations are falling in most areas of the Country. In other words, "same as it ever was." 8-) Fact check: COVID deaths in the U.S. are now up to 2,000 a day according to ...
by ChiKid24
Fri Aug 07, 2020 11:15 am
Forum: Personal Investments
Topic: Why use savings accounts?
Replies: 8
Views: 1031

Re: Why use savings accounts?

I play the savings account bonus game and will move my emergency fund from institution to institution based on bonus offers to enhance the yield. This year alone, I've earned $1,700 in bonuses from Simple ($250), Chase ($350), Citi ($500), US Bank ($300) and PNC ($300). I will be getting a $500 bonu...
by ChiKid24
Thu Aug 06, 2020 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

I have a question what happens if you walk away from a locked loan while it's still under writing because you got a better offer from another lender. I know if you paid for appraisal then you won't get the money back. Nothing happens. You're actually free to walk within three days AFTER signing you...
by ChiKid24
Thu Aug 06, 2020 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Applied with watermark today. Hoping to get LE tomorrow and take to Better to see if they will match or come close to it (2500 Amex could still make them more attractive without match I suppose). I am 130 days since my LenderFi loan funded. So, not within a 45 day lock, but do you think close enoug...
by ChiKid24
Thu Aug 06, 2020 7:12 pm
Forum: Investing - Theory, News & General
Topic: Carry on or Take your toys and go home ?
Replies: 102
Views: 9433

Re: Carry on or Take your toys and go home ?

The long-term annual growth rate of the S&P 500 is positive. That means it is not uncommon to be at or near "all time highs". Looking back at the last 7 years, here is the number of times the S&P hit an all time high in each of those years: 2013: 45 times 2014: 52 2015: 10 2016: 18...
by ChiKid24
Thu Aug 06, 2020 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1638
Views: 152306

Re: My LenderFi refinance is going well

Also: LenderFi has a 6 month clawback on the lenders credit Where is this stated? I tried to find it in the docs I signed. I saw this when I closed with them in February, but so far in my second go round, I have not seen any language that I can’t refi within 6 months. I have a feeling that I’ll wai...
by ChiKid24
Thu Aug 06, 2020 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

We're about to have our second appraisal in two weeks. Each potential lender requires a separate appraisal, it turns out, though one Loan Officer said he once had another lender share an appraisal. It seems wasteful, but is apparently required by Fannie Mae for any home valued over $1 million. Is t...
by ChiKid24
Thu Aug 06, 2020 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

Wow... Currently just about to close on a 2.75/30/no cost with better and just had lenderfi call me up because we hadn’t chatted in a few weeks offering 2.50/30/no cost. Just got off the phone, I’m inclined to go ahead and get my current one closed (bird in hand) but wonder how soon I could start a...
by ChiKid24
Thu Aug 06, 2020 11:00 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1638
Views: 152306

Re: My LenderFi refinance is going well

Well, color me completely unimpressed by my available LenderFi options. For reference State: PA Loan amount: $266,000 Current LTV: ~61% FICO >800 Income >$200k, stable for 5+ years 23 years remaining on Fixed 30-year mortgage The only true no-cost options available to me through LenderFi Term Rate ...
by ChiKid24
Wed Aug 05, 2020 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

There was some discussion in this thread many pages ago which linked to some specific rules that Section E costs can't increase (or can only increase a minor amount) from the original loan estimate. Would suggest that if it's manipulated by the lender, it would be overstated in their original estim...
by ChiKid24
Wed Aug 05, 2020 4:47 pm
Forum: Personal Investments
Topic: Should I max my 401K?
Replies: 22
Views: 1664

Re: Should I max my 401K?

...I'd much rather have $100k in a taxable brokerage than $100k in a traditional 401k. What about a Roth 401k? Even if the OP must incur a 20% (e.g., 15% federal and 5% state) tax on half of the brokerage withdrawal (and it's unlikely the gain fraction would be that high), a Roth account funded tha...
by ChiKid24
Wed Aug 05, 2020 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

There was some discussion in this thread many pages ago which linked to some specific rules that Section E costs can't increase (or can only increase a minor amount) from the original loan estimate. Would suggest that if it's manipulated by the lender, it would be overstated in their original estim...
by ChiKid24
Wed Aug 05, 2020 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

I don't see any costs for having a notary over to sign the documents on my LenderFi LE ... are these fees not relevant on a refi? This is my first refi, it's always been new purchases for me. Notary fees are likely included in the Section C fees, somewhere in Title. Pretty standard today that there...
by ChiKid24
Wed Aug 05, 2020 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

If two lenders are offering the same interest rate, you just compare the sum of A+B+C+E less lender credits to determine which offer is better. I agree with this. However in practice, section E can also be manipulated. This actually represents the amount you get charged by the government agency to ...
by ChiKid24
Wed Aug 05, 2020 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1638
Views: 152306

Re: My LenderFi refinance is going well

I just received closing disclosure from lenderfi, looks like my outstanding balance increased by 2k. Looks like they rolled the closing cost (prepaid interest + 3 month property tax which is about 2k) into the loan amount, and I will be getting $150 from them on closing. Is there a benefit of payin...
by ChiKid24
Wed Aug 05, 2020 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9506
Views: 664168

Re: Refinance Mega Thread

I think I'm almost at the finish line. Unfortunately LenderFi is no longer offering the 2.375 at no cost so I'm back to 2.5. Is it logical for me to remove property taxes from total closing costs? If I'm paying them out of pocket up front and then getting a credit from my current mortgage holder in...
by ChiKid24
Wed Aug 05, 2020 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1638
Views: 152306

Re: My LenderFi refinance is going well

I just received closing disclosure from lenderfi, looks like my outstanding balance increased by 2k. Looks like they rolled the closing cost (prepaid interest + 3 month property tax which is about 2k) into the loan amount, and I will be getting $150 from them on closing. Is there a benefit of payin...
by ChiKid24
Wed Aug 05, 2020 1:48 pm
Forum: Personal Investments
Topic: Should I max my 401K?
Replies: 22
Views: 1664

Re: Should I max my 401K?

Another thought/consideration for OP. Have you taken into consideration the money you'll be withdrawing from the inherited IRA each year? Unless this was inherited from a spouse, you will likely have to deplete the entire $125k balance within 10 years. Unfortunately you'll pay taxes on these withdra...
by ChiKid24
Wed Aug 05, 2020 1:36 pm
Forum: Personal Investments
Topic: Should I max my 401K?
Replies: 22
Views: 1664

Re: Should I max my 401K?

Simply, I'd much rather have $100k in a taxable brokerage than $100k in a traditional 401k. But the cost of getting $100K into a taxable account and $100K into a trad'l 401k aren't the same. If the marginal tax rate was say 20%, then the real choice is between $100K in taxable (or potentially Roth ...
by ChiKid24
Wed Aug 05, 2020 1:28 pm
Forum: Personal Investments
Topic: Should I max my 401K?
Replies: 22
Views: 1664

Re: Should I max my 401K?

...I'd much rather have $100k in a taxable brokerage than $100k in a traditional 401k. What about a Roth 401k? Even if the OP must incur a 20% (e.g., 15% federal and 5% state) tax on half of the brokerage withdrawal (and it's unlikely the gain fraction would be that high), a Roth account funded tha...