Search found 57 matches

by FordMustang12
Tue Jan 19, 2021 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Are 1.99 for 15 year, 2.375 for 20 year and 2.56 for 30 year with no closing costs for 323k mortgage refinance good rates? Has anyone gotten better rates? I just got these rates from my broker. I am currently on 30 year but now considering 20 year.
by FordMustang12
Fri Jan 01, 2021 4:58 pm
Forum: Personal Investments
Topic: I might have made a mistake. Please help
Replies: 12
Views: 1272

Re: I might have made a mistake. Please help

Just recontribute the full $100k prior to the deadline for filing your 2020 federal tax return. From the example on Page 14 of https://www.irs.gov/pub/irs-drop/n-20-50.pdf: Taxpayer B receives a $45,000 distribution from a § 403(b) plan on November 1, 2020. Taxpayer B is a qualified individual and ...
by FordMustang12
Fri Jan 01, 2021 4:23 pm
Forum: Personal Investments
Topic: I might have made a mistake. Please help
Replies: 12
Views: 1272

Re: I might have made a mistake. Please help

I read about the cares act 100k 2 days before the deadline. I qualified for withdrawal and withdrew 100k after talking with fidelity. I don’t need the money but since I am here on a visa I have no clue about my future and so I thought this would be a good idea to take a 100k and move it taxable van...
by FordMustang12
Fri Jan 01, 2021 4:20 pm
Forum: Personal Investments
Topic: I might have made a mistake. Please help
Replies: 12
Views: 1272

Re: I might have made a mistake. Please help

Can you articulate better what exactly you did, what you thought you qualified for, and what you’re trying to do now? 1. I qualified for taking the distribution under cares act per fidelity rep. 2. I took 100k distribution on December 30 2020 and check is now on the way. 3. I took the distribution ...
by FordMustang12
Fri Jan 01, 2021 4:15 pm
Forum: Personal Investments
Topic: I might have made a mistake. Please help
Replies: 12
Views: 1272

Re: I might have made a mistake. Please help

What the hell? How did you qualify for coronavirus-impacted distribution then later say you don't need the money? It's not adding up. The distribution from your retirement accounts doesn’t require a financial need. You just have to have been impacted. So OP could have had hours reduced etc. had an ...
by FordMustang12
Fri Jan 01, 2021 3:22 pm
Forum: Personal Investments
Topic: I might have made a mistake. Please help
Replies: 12
Views: 1272

I might have made a mistake. Please help

I read about the cares act 100k 2 days before the deadline. I qualified for withdrawal and withdrew 100k after talking with fidelity. I don’t need the money but since I am here on a visa I have no clue about my future and so I thought this would be a good idea to take a 100k and move it taxable vang...
by FordMustang12
Mon Jul 27, 2020 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Can someone please explain when do you get a hefty lender credit and how you get money into your pocket? Would you get a hefty lender credit only if you escrow in so that it covers your prepaids or would you get the credit even without escrowing in?
by FordMustang12
Thu Jul 23, 2020 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Loan Depot offered a 2.625% 30Y FRM with lender credit covering all the closing costs and fees. I have to pay only prepaid interests and payoff amount due to my present lender. No escrow account needed. No appraisal required. Michigan property. These are all negotiated by e-mails before submitting ...
by FordMustang12
Thu Jul 23, 2020 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Has anyone been asked for ssn copy for mortgage refinance? I have been asked to send a copy of ssn.
by FordMustang12
Fri Jul 10, 2020 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Quick Update: Better.com Matched my 2.625 no cost 30 year fixed. I am also getting AMEX 2500 credit and appraisal was waived! Should be done refinancing until next month when 30 year rates are sub-2%? Did better agree to match it today ? They are not beating nor matching for mine. Yes this afternoo...
by FordMustang12
Thu Jul 09, 2020 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

I just locked in a Zero Cost 2.625% for a 30 year fixed tonight. Loan amount was ~$410k on $675k house. I have used Costco in the past, but I used LenderFi for this. Rates seem to be about 0.25% better on the phone than when you punch in your info on the website. FYI, I refinanced about 3 months ag...
by FordMustang12
Thu Jul 09, 2020 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

I just locked in a Zero Cost 2.625% for a 30 year fixed tonight. Loan amount was ~$410k on $675k house. I have used Costco in the past, but I used LenderFi for this. Rates seem to be about 0.25% better on the phone than when you punch in your info on the website. FYI, I refinanced about 3 months ag...
by FordMustang12
Wed Jul 08, 2020 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Finally asked my broker to proceed. Better wont match the deal and lenderfi seemed slow to respond. Loan depot was not even able to match. Im getting 2.82 for 29 year loan. No appraisal, no escrow, and no PMI even though i am at 86% ltv. Since the appraisal was waived he will give me the appraisal f...
by FordMustang12
Mon Jul 06, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

I got a few quotes and better did not agree to counter or even match them saying these are way too good and we cannot counter or match them. I asked if I will get 1000$ and the agent asked me to send the final disclosure from the other company I went with. Once the closing is done they will send 100...
by FordMustang12
Mon Jun 29, 2020 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Update: Better.com was wiling to match the best offer that I received from LenderFI, and then taking the $2500 AMEX promo into acct I am going forward with better. Terms as follows: Loan amount: $419k Rate: 2.75% Term: 30 year fixed Loan costs (A+B+C) = $1079 Lender Credits of $1079 to offset loan ...
by FordMustang12
Mon Jun 29, 2020 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

Update: Better.com was wiling to match the best offer that I received from LenderFI, and then taking the $2500 AMEX promo into acct I am going forward with better. Terms as follows: Loan amount: $419k Rate: 2.75% Term: 30 year fixed Loan costs (A+B+C) = $1079 Lender Credits of $1079 to offset loan ...
by FordMustang12
Mon Jun 29, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

My broker is giving me 2.770% for 29 year loan with no closing costs.My Ltv is 86% so I have like 40$ with PMI. Is this a good rate? Currently I am at 3.375 for 30 year. Has anyone gotten this rate + better.com Amex offer? This is a great deal! Run and take it without hesitation. Just make sure it ...
by FordMustang12
Mon Jun 29, 2020 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

My broker is giving me 2.770% for 29 year loan with no closing costs.My Ltv is 86% so I have like 40$ with PMI. Is this a good rate? Currently I am at 3.375 for 30 year. Has anyone gotten this rate + better.com Amex offer? This is a great deal! Run and take it without hesitation. Just make sure it ...
by FordMustang12
Mon Jun 29, 2020 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10245
Views: 737734

Re: Refinance Mega Thread

My broker is giving me 2.770% for 29 year loan with no closing costs.My Ltv is 86% so I have like 40$ with PMI. Is this a good rate? Currently I am at 3.375 for 30 year. Has anyone gotten this rate + better.com Amex offer?
by FordMustang12
Sun Mar 22, 2020 7:34 pm
Forum: Personal Investments
Topic: Tax Loss Harvest help - first timer
Replies: 5
Views: 233

Re: Tax Loss Harvest help - first timer

The loss will first offset any capital gains, including capital gain distributions. Any remaining loss will offset ordinary income, up to $3000/yr. Any loss remaining after that get carried over to the next tax year, in which the process repeats. Exchanging is the simplest: the sale and purchase oc...
by FordMustang12
Sun Mar 22, 2020 7:30 pm
Forum: Personal Investments
Topic: Tax Loss Harvest help - first timer
Replies: 5
Views: 233

Re: Tax Loss Harvest help - first timer

This is my first time dealing with or thinking about tax loss harvesting and I need help in understanding this more. I have a total loss of $6626.41 and no gains. Should I tax loss harvest? Sure. So will this be towards 2019 taxes or 2020 taxes ? The sale will occur in 2020 and be reported on your ...
by FordMustang12
Sun Mar 22, 2020 6:17 pm
Forum: Personal Investments
Topic: Tax Loss Harvest help - first timer
Replies: 5
Views: 233

Tax Loss Harvest help - first timer

Hello Bogleheads, This is my first time dealing with or thinking about tax loss harvesting and I need help in understanding this more. I have a total loss of $6626.41 and no gains. Should I tax loss harvest? Seems like it will be beneficial for me just by lowering my cost basis and I will come out a...
by FordMustang12
Fri Jan 10, 2020 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance Help
Replies: 6
Views: 469

Re: Mortgage Refinance Help

I have been doing calculations but i I am extremely confused now and need help from fellow Bogleheads. Current Mortgage (refinanced in 2019) Balance loan amount 330,830 PMI 68.35 Interest rate - 3.875/30 year LTV - 0.89 Payment 1675/mo My broker quoted me 0 closing cost (rolled into interest) for 3...
by FordMustang12
Fri Jan 10, 2020 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance Help
Replies: 6
Views: 469

Re: Mortgage Refinance Help

It varies by lender but I thought PMI was cheaper sometimes if you have a 15 year mortgage? I’d stick with the 30 year for cash flow insurance but pay down to avoid PMI I don’t know. It’s a nice secondary emergency fund, your PMI is pretty cheap but it’s always annoying to pay more. I’d lean toward...
by FordMustang12
Fri Jan 10, 2020 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance Help
Replies: 6
Views: 469

Re: Mortgage Refinance Help

One way to think about it is would you pay the $30K in order to shave ~0.25% off your rate? That is effectively what you’d be doing, and the answer would be no for me. I’d suggest go for the 15-yr but hang on to PMI until you are closer or until your e-fund(s) get larger. Thank you i am leaning tow...
by FordMustang12
Fri Jan 10, 2020 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance Help
Replies: 6
Views: 469

Mortgage Refinance Help

I have been doing calculations but i I am extremely confused now and need help from fellow Bogleheads. Current Mortgage (refinanced in 2019) Balance loan amount 330,830 PMI 68.35 Interest rate - 3.875/30 year LTV - 0.89 Payment 1675/mo My broker quoted me 0 closing cost (rolled into interest) for 30...
by FordMustang12
Thu Feb 28, 2019 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mortgage Questions
Replies: 10
Views: 513

Re: Refinance Mortgage Questions

Between the 3 options you posted, I would go with option 2. $80 PMI per month is about the same as 0.28% in interest rate so option 1 is bad compared to option 2, even ignoring that you say you will remove PMI soon. I wouldn't pay any closing costs since you might refinance again after your potenti...
by FordMustang12
Thu Feb 28, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mortgage Questions
Replies: 10
Views: 513

Re: Refinance Mortgage Questions

You need to calculate the break even time between options 2 and 3, while accounting for option 2 having 2500 less in principle. If my calculation is right then the break even time should be about 52 months. Hmm, thats probably a toss up and just depends on how you value lower payments vs lower prin...
by FordMustang12
Thu Feb 28, 2019 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mortgage Questions
Replies: 10
Views: 513

Re: Refinance Mortgage Questions

You need to calculate the break even time between options 2 and 3, while accounting for option 2 having 2500 less in principle. If my calculation is right then the break even time should be about 52 months. Hmm, thats probably a toss up and just depends on how you value lower payments vs lower prin...
by FordMustang12
Thu Feb 28, 2019 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mortgage Questions
Replies: 10
Views: 513

Re: Refinance Mortgage Questions

barnaclebob wrote: Thu Feb 28, 2019 3:14 pm You need to calculate the break even time between options 2 and 3, while accounting for option 2 having 2500 less in principle.
If my calculation is right then the break even time should be about 52 months.
by FordMustang12
Thu Feb 28, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mortgage Questions
Replies: 10
Views: 513

Refinance Mortgage Questions

Hi everyone, My house value is 368k as per zillow. I bought the house last year for 364k and owe ~342k. My mortgage rate is 4.56% with PMI of 80$. I pay this loan like 15 year loan. Since the mortgage rates are dropping i asked my broker and he offered me the following options:- 1. 4.56% and waive P...
by FordMustang12
Mon Apr 09, 2018 9:49 pm
Forum: Personal Investments
Topic: Vanguard 1099-R issue. Please help
Replies: 10
Views: 623

Re: Vanguard 1099-R issue. Please help

There were $6000 in distributions. Did you tell TurboTax that the $6000 in distributions was not taxable? What are the interview questions for your Roth IRA in TurboTax? How did you answer the interview questions? Vanguard and the 1099-R has no idea if you have other Roth IRAs, made other contribut...
by FordMustang12
Mon Apr 09, 2018 9:43 pm
Forum: Personal Investments
Topic: Vanguard 1099-R issue. Please help
Replies: 10
Views: 623

Re: Vanguard 1099-R issue. Please help

IndexRookie wrote: Mon Apr 09, 2018 9:25 pm A 1099 is expected. What’s the code in box 7? Make sure it’s correct there and on your return.
Box 7 has a "J" on it
by FordMustang12
Mon Apr 09, 2018 9:20 pm
Forum: Personal Investments
Topic: Vanguard 1099-R issue. Please help
Replies: 10
Views: 623

Re: Vanguard 1099-R issue. Please help

livesoft wrote: Mon Apr 09, 2018 9:16 pm Import does not save you from user input error.
But the 1099r form in vanguard say 6000$ was distributions 😭
by FordMustang12
Mon Apr 09, 2018 9:15 pm
Forum: Personal Investments
Topic: Vanguard 1099-R issue. Please help
Replies: 10
Views: 623

Re: Vanguard 1099-R issue. Please help

livesoft wrote: Mon Apr 09, 2018 9:11 pm Sounds like a user input error to TurboTax. Maybe read IRS Publication 590B about Roth IRA withdrawals and also the instructions to Form 1040?
Nope I did an automatic import from vanguard via turbo tax. This is when I realised and opened my 1099r in vanguard and saw all the data
by FordMustang12
Mon Apr 09, 2018 8:57 pm
Forum: Personal Investments
Topic: Vanguard 1099-R issue. Please help
Replies: 10
Views: 623

Vanguard 1099-R issue. Please help

I am 31 and In feb 2017 i made a decision to contribute to a Roth IRA and so i opened a Roth IRA Brokerage account with vanguard and contributed $5500 for 2016 and $500 for the year 2017. However, in a couple of days i changed my mind and contacted Vanguard asking them if i could withdraw the funds ...
by FordMustang12
Tue Jan 10, 2017 2:22 pm
Forum: Personal Investments
Topic: Please [Review] my Portfolio
Replies: 7
Views: 941

Re: Please with my Portfolio

You shouldn't be putting any money into taxable accounts until you have opened and maxed IRAs (probably Roth) for both you and your spouse for 2016 and 2017. If needed, you should see assets from taxable to fund those. This. And no need to worry about how to rebalance when you do it in tax-advantag...
by FordMustang12
Tue Jan 10, 2017 2:19 pm
Forum: Personal Investments
Topic: Please [Review] my Portfolio
Replies: 7
Views: 941

Re: Please with my Portfolio

1) To mimic a total stock market index fund use a 4 to 1 ratio of Fidelity 500 Index Fund Premium (FUSVX) and Fidelity Extended Market Index Fund Premium (FSEVX). 2) At age 30 I suggest a higher bond allocation. I suggest about 20% in bonds. In my opinion 20% of stocks in international stocks is wi...
by FordMustang12
Tue Jan 10, 2017 1:20 pm
Forum: Personal Investments
Topic: Please [Review] my Portfolio
Replies: 7
Views: 941

Please [Review] my Portfolio

Hello everyone. I did not know anything about investments about a year ago but after reading bogleheads and other material i decided to start investing myself. I have a few questions and just want to know if I am doing well and if there is anything i should change. Here is my Portfolio. Note: My wif...
by FordMustang12
Mon Apr 04, 2016 6:16 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Re: Roth IRA Question

Great so I can contribute 5500 for FY2015 and then Contribute another 5500 for FY2016.

Thank you everyone for your help.
by FordMustang12
Mon Apr 04, 2016 5:41 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Re: Roth IRA Question

What is your 2015 adjusted gross income & taxable income? This may eliminate a lot of confusion for everyone. bill AGI-67990 taxable income - 67990 I think you're missing at least a standard deduction and personal exemption? Your taxable income is likely lower than your AGI. Regardless, I belie...
by FordMustang12
Mon Apr 04, 2016 5:25 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Re: Roth IRA Question

billfromct wrote:What is your 2015 adjusted gross income & taxable income?

This may eliminate a lot of confusion for everyone.

bill
AGI-67990 taxable income - 67990
by FordMustang12
Mon Apr 04, 2016 4:44 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Re: Roth IRA Question

I received some similar information, but in the context of a Roth conversion, not just a standard RothIRA contribution. If I understood correctly (and I'm sure didn't, at least not completely), when Fidelity converts from a tIRA to a rIRA, they have to send the IRS information about the gains, and ...
by FordMustang12
Mon Apr 04, 2016 3:36 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Re: Roth IRA Question

I am 29 years old so i can contribute 5500$ i believe. I did not use any tax software. I used efile to do my taxes. I was just not sure if i can open an account and fund it with 5500$ for 2015 AFTER filing my taxes already and then fund it with another 5500$ for the year 2016. Yes, you can do all t...
by FordMustang12
Mon Apr 04, 2016 3:21 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Re: Roth IRA Question

I am 29 years old so i can contribute 5500$ i believe. I did not use any tax software. I used efile to do my taxes. I was just not sure if i can open an account and fund it with 5500$ for 2015 AFTER filing my taxes already and then fund it with another 5500$ for the year 2016. Yes, you can do all t...
by FordMustang12
Mon Apr 04, 2016 2:16 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Re: Roth IRA Question

I am 29 years old so i can contribute 5500$ i believe. I did not use any tax software. I used efile to do my taxes. I was just not sure if i can open an account and fund it with 5500$ for 2015 AFTER filing my taxes already and then fund it with another 5500$ for the year 2016.
by FordMustang12
Mon Apr 04, 2016 2:06 pm
Forum: Personal Investments
Topic: Roth IRA Question
Replies: 15
Views: 1011

Roth IRA Question

Hello Bogleheads,

I already filed my taxes for 2015. Can i still open a Roth IRA account and contribute 5500$? If yes, do i have to do anything with the taxes?
by FordMustang12
Fri Apr 01, 2016 12:16 pm
Forum: Personal Investments
Topic: Am i doing well?
Replies: 9
Views: 2150

Re: Am i doing well?

Invest in an IRA before taxable - either a traditional IRA or a roth IRA. Move your taxable into the ira - You can put in up to $5500 for 2015 if you get moving and do it by 18th April. And then another $5500 for 2016. Sorry i forgot to mention in the original post. I did not start a Roth IRA becau...
by FordMustang12
Thu Mar 31, 2016 8:44 pm
Forum: Personal Investments
Topic: Am i doing well?
Replies: 9
Views: 2150

Re: Am i doing well?

What is the rate on the car loan? Do you want to pay that off early? It is 1.79%. Yes I was planning to be debt free by the end of this year. Personally, debt doesn't bother me, especially if it is less than 2% I realize the $$ in the Ally account is @ 1%, but I like to have some liquidity in case ...
by FordMustang12
Thu Mar 31, 2016 7:09 pm
Forum: Personal Investments
Topic: Am i doing well?
Replies: 9
Views: 2150

Re: Am i doing well?

Daryl wrote:What is the rate on the car loan? Do you want to pay that off early?
It is 1.79%. Yes I was planning to be debt free by the end of this year.