Search found 72 matches

by mt2k
Fri Jan 08, 2021 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Jumped in to the race to "redo" my refi for 2020 and seeking advice. My goal is to pay $0 in closing costs (D=A+B+C) so here's the best I've received so far. Interactive Mortgage is quoting 2.625% with $0 closing costs for both 20 and 30 year terms. In comparison, Better.com is quoting 2....
by mt2k
Mon Jan 04, 2021 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

I’m curious about how low would I need to get to consider a refi. I called my original loan officer, he told me not to bother unless I was cutting one percentage point. I’m not sure I agree because I want to get into a fixed rate so might be worth refi even if it’s not a full one percentage point. ...
by mt2k
Sun Jan 03, 2021 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

a 2.0% rate with 2.19% APR (from Intelliloan) is still a better deal than 2.375% no closing cost (from IM), correct? I haven't seen anything better than Intelliloan for a 30yr fixed. It depends on your goal. If you are sure to stay in the house for many years and don't want to refinance again then ...
by mt2k
Sun Jan 03, 2021 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

How are closings working nowadays in light of Covid? It just dawned on me that it's logistically troublesome if my spouse and I both have to be physically present to sign documents, since kids do not have daycare and nobody to watch them since we exist in a tiny bubble. Are people doing these thing...
by mt2k
Wed Dec 30, 2020 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

When people say no closing cost what does that mean exactly? The no closing cost doesn't include prepaids or escrow right? Currently have an offer of A+B+C - $2042 E+F+G+H -$1503 D+I -$3545 Credits -$2202 Total closing -$1343 $1978 title seems hight, anyone use Radian title? What were their fees li...
by mt2k
Mon Dec 28, 2020 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

This may be a dumb question, but where can I find current rates. I want to see the daily changes in rates, is there a website that I can track them on? Here is one of the many.. You can get the general trend but many of the lenders give you a much better rate than the one here in this link http://w...
by mt2k
Tue Dec 22, 2020 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Been wanting to refinance our 30y 4.25% loan. I wasn't loving the rates quoted by the various online banks. After a tip from a buddy I checked out a local credit union who quoted me at 2.5% for a 30y. This blew me away and the application is pending now. Our LTV is still pretty high at 90% so there...
by mt2k
Sat Dec 19, 2020 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

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
Fri Dec 11, 2020 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Jumped in to the race to "redo" my refi for 2020 and seeking advice. My goal is to pay $0 in closing costs (D=A+B+C) so here's the best I've received so far. Interactive Mortgage is quoting 2.625% with $0 closing costs for both 20 and 30 year terms. In comparison, Better.com is quoting 2....
by mt2k
Fri Dec 11, 2020 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

(B) come out ahead but 5% is a very conservative estimate. I may come out quite ahead with (A) with better returns. Am I thinking this right? That is not comparing the same level of risk. Which could be fine for you, but that’s not how I would approach it. I would compare just the interest of $548,...
by mt2k
Tue Dec 08, 2020 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Jumped in to the race to "redo" my refi for 2020 and seeking advice. My goal is to pay $0 in closing costs (D=A+B+C) so here's the best I've received so far. Interactive Mortgage is quoting 2.625% with $0 closing costs for both 20 and 30 year terms. In comparison, Better.com is quoting 2....
by mt2k
Tue Dec 08, 2020 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Jumped in to the race to "redo" my refi for 2020 and seeking advice. My goal is to pay $0 in closing costs (D=A+B+C) so here's the best I've received so far. Interactive Mortgage is quoting 2.625% with $0 closing costs for both 20 and 30 year terms. In comparison, Better.com is quoting 2....
by mt2k
Tue Dec 08, 2020 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

As I previously mentioned, we just refinanced with Better.com. Here are the details: 2.625% $495K loan 20 year fixed LTV 65% Property value approx. $775K No fees State of NJ We just asked Better.com about refinancing again (even though December was our first month paying mortgage at our new 2.625% ...
by mt2k
Tue Dec 08, 2020 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Lender Lock Requirement
Replies: 6
Views: 605

Re: Mortgage Lender Lock Requirement

Problem is refi rates will jump in January because of the new fee. The new fee is already in effect since December 1st. Most of the lenders have included the new fee in the refinance rate and you won't see that as an additional fee. Check the Refinance Mega Thread, people are getting 2.37%-2-5% rat...
by mt2k
Mon Dec 07, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Mr. Cooper. No complaints, I had them previously as well. I loved mr Cooper when I had them after citi sold my loan. They’re good. So far I’m not having a good experience with them. They’ve messed up my monthly payment twice now. Makes you miss WF? Yes, though in all fairness, my loan at WF didn’t ...
by mt2k
Thu Dec 03, 2020 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Lender Lock Requirement
Replies: 6
Views: 605

Re: Mortgage Lender Lock Requirement

I’m currently under contract for a new construction home. They have their preferred lender which we had to apply with and have also done some legwork with other lenders to get the best deal. The issue is that our builder is requiring to know which lender we will use 60 days prior to close. Accordin...
by mt2k
Wed Dec 02, 2020 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Can someone give inputs on if this reasonable deal from "Better" , iam in IL. ? My goal here is to pay off my mortgage sooner and pay less interest overall. My current rate is 3.375% on 30 year fixed Rate:2.375 Payment:$1,682 APR:2.49% Loan Amount:$254,557 Closing Fees:$3843 (orig fees,A:...
by mt2k
Wed Dec 02, 2020 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Hi, catching up on these threads. Maybe I'm old school but I do like going with a Big Guy. Current Rate 4% I'm currently looking at refinancing with Quiken at a 480K refinance $1877 (.126% points) + title = 5519 of feeds. Also, has anybody refinanced in PA? I see my original mortgage had significan...
by mt2k
Wed Dec 02, 2020 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Any disadvantages if the loan is passed of for servicing? Isn’t it seamless for a borrower? That's common practice. Whenever the servicer changes you have to send the monthly payments to the new guy at a new address. If you have have setup automatic payments thru your bank or the servicer you have ...
by mt2k
Tue Dec 01, 2020 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Can someone give inputs on if this reasonable deal from "Better" , iam in IL. ? My goal here is to pay off my mortgage sooner and pay less interest overall. My current rate is 3.375% on 30 year fixed Rate:2.375 Payment:$1,682 APR:2.49% Loan Amount:$254,557 Closing Fees:$3843 (orig fees,A:...
by mt2k
Tue Dec 01, 2020 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

Re: Refinance Mega Thread

Can someone give inputs on if this reasonable deal from "Better" , iam in IL. ? My goal here is to pay off my mortgage sooner and pay less interest overall. My current rate is 3.375% on 30 year fixed Rate:2.375 Payment:$1,682 APR:2.49% Loan Amount:$254,557 Closing Fees:$3843 (orig fees,A:...
by mt2k
Sat Nov 21, 2020 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 1022

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 8795
Views: 855256

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 10225
Views: 735197

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: 7
Views: 757

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: 7
Views: 757

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: 7
Views: 757

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: 10225
Views: 735197

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: 863
Views: 99966

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: 10225
Views: 735197

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...