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BrandonBogle

Many (most?) of the threads on installing a home PV system seem to inevitably get down to "How long until I get my money back?", and I think this is an odd point of view, unlike what we take on other investments. No one says, "If I invest in VTSAX, how long until the returns equal my...

BrandonBogle

The option to pay other bills with your credit card for free ended after MBNA became part of BoA. It was a nice perk. I was coming here to say the same thing. I hadn’t met any other credit card issuer that offered that perk. I actually really liked MBNA as I felt they were very ahead of things. I m...

BrandonBogle

1. Chase (JP Morgan) 2.5% (2.492% APR) Total closing costs: $65 D = $2,958 (D+I) $4,027 Lender credits $3,962 I know APR is a poor value to use to evaluate things b/c of variance of what is/isn't included in it, but anyone care to explain to me how the APR is lower than the rate? I guess its possib...

BrandonBogle

I appreciate everyone's help on this thread, and a special :sharebeer to Brandon. I closed with Better today - 15 yrs, 2%, $1.2K net credit. I didnt do much hunting for rates, the info in this thread really helped me streamline it to the below: 1. Reached out to UWM - 2.125% with $1.5K credit 2. Ap...

BrandonBogle

How long are your refinances taking? I started mine with CITI in August, and it's been pushed out consistently - now with a target closing of 2/19. My current loan is with WF. With CITI, I'm at 3.125% with 0 points for a $950K jumbo loan. This includes a 0.125 discount for being a customer. I know ...

BrandonBogle

How long are your refinances taking? I started mine with CITI in August, and it's been pushed out consistently - now with a target closing of 2/19. My current loan is with WF. With CITI, I'm at 3.125% with 0 points for a $950K jumbo loan. This includes a 0.125 discount for being a customer. I know ...

BrandonBogle

On #3, this is not something I am willing to pay. There should be no overlap in interest as the funds on my new loan should be immediately sent to pay off the old loan on the same day. If it's sitting for 3-4 days, someone is making money on the interest and the bank shouldn't capture that by holdi...

BrandonBogle

Fingers crossed I'm making a good choice. Also, fingers crossed that Better.com refunds the $550 that I paid for an appraisal that was going to be waived anyway. By the way, I started this process with LenderFi last Wednesday...how they're closing tomorrow when two other lenders were at 45 days and...

BrandonBogle

Fingers crossed I'm making a good choice. Also, fingers crossed that Better.com refunds the $550 that I paid for an appraisal that was going to be waived anyway. By the way, I started this process with LenderFi last Wednesday...how they're closing tomorrow when two other lenders were at 45 days and...

BrandonBogle

Valdeselad wrote: ↑Tue Jan 19, 2021 5:45 pm Thanks @BrandonBogle for the help...

It is the Closing Disclosure which is why I want to make sure everything is correct.

Did LenderFi update your Closing Disclosure once you reached out?

BrandonBogle

Hey Brandonbogle, Would you mind sharing what card youre using that pays 2.625% rebate? We're looking to get a new credit card after our refi goest through... Learn so much on this thread... Thanks in advance! Sorry I completely missed this question! Details can be found here: https://www.boglehead...

BrandonBogle

I thought my TaxAct was messed up, when I entered the interest from a 1099INT, I noticed that our amount due increased by 32% of the amount input. Very strange since we are in 22% bracket this year. After double checking everything and going through the 1040 it was the rebate that was changing also...

BrandonBogle

I am unsure if I am understanding you right or not but ... If it is your understanding that you necessarily have to claim a stimulus payment, that is incorrect. In other words, if you got a stimulus payment of $1,000 and per your 2020 income, you should have received <= $1,000, you do not need to d...

BrandonBogle

Sorry to go off-topic here, but does this mean that both stimulus payments should be considered part of tax year 2020? The first round arrived very early via direct deposit. For TY 2019, I had a balance due I paid in July 2020 via direct debit. I guess the IRS won't use the direct debit account for...

BrandonBogle

Just arrived today. 20 days after the site said it was mailed, though I’m sure that wasn’t when it went to the mail carrier. Good! Still waiting on mine. Still waiting for mine too. My mom got hers yesterday. Likewise. Says 1/6 on the Get My Payment site, but nothing in the mailbox (nor USPS Inform...

BrandonBogle

Sorry to go off-topic here, but does this mean that both stimulus payments should be considered part of tax year 2020? The first round arrived very early via direct deposit. For TY 2019, I had a balance due I paid in July 2020 via direct debit. I guess the IRS won't use the direct debit account for ...

BrandonBogle

Here it is January 26 and I have yet to get documents from Mr. Cooper and my payment is due 2/1. Has anyone had this situation? Yes. It is very common for Mr. Cooper to take days to process the on-boarding and oftentimes it goes past the "due" date and into the grace. I was notified 10/18...

BrandonBogle

Ah, Im sorry...I didn't show that - does this help? https://i.imgur.com/Ne4Q1xM.png Yeah, that highlights you financing the closing costs, which is find, particularly in this rate environment. I constantly get tripped up by the phrase "closing costs". Closing costs are everything, i.e., A...

BrandonBogle

Here it is January 26 and I have yet to get documents from Mr. Cooper and my payment is due 2/1. Has anyone had this situation? Yes. It is very common for Mr. Cooper to take days to process the on-boarding and oftentimes it goes past the "due" date and into the grace. I was notified 10/18...

BrandonBogle

One thing about CA state (perhaps others too) is that there are some mandatory state fees during re-fi that you will incur even for a $0 closing cost loan: 1. ~200 of fees will be charged during payoff for transfer fees. This is part of the payoff quote, so it will not reflect anywhere in the closi...

BrandonBogle

Generally, at low balances like sub-$150k, I prefer 15 year mortgages. However, maximizing tax advantaged space is more important IMO. So if you aren’t already maximizing tax advantages space, I would recommend getting the 30 year until doing so. That's my thought as well. Realistically we will pro...

BrandonBogle

Your numbers are nearly identical to mine ($115k appraised, 27y $84,600 left @ 4.75%). Just curious if you have any quotes for 15y rates? My lowest so far is 15y 2.125% with "D" at $2361 from Watermark. That's with an appraisal waiver through Freddie Mac (Fannie Mae won't waive). Which le...

BrandonBogle

Hi dctech & Friends, My LE from Better.com says Lender's Title Insurance is $575 and Title - Settlement fee is $550. Radian quoted $450 for each (total $900). I check with Hyatt Legal and they said escrow services are not covered by the plan. Is it possible for me to save $600 ?. If yes, can yo...

BrandonBogle

JMak97008 wrote: ↑Mon Jan 25, 2021 8:04 pm Ah, Im sorry...I didn't show that - does this help? https://i.imgur.com/Ne4Q1xM.png

Yeah, that highlights you financing the closing costs, which is find, particularly in this rate environment.

BrandonBogle

When your Better appraisal gets waived, then Better's offer will be $550 better (actually $587). ... The bottom line is that the Better and LF offers are comparable. With Better you can come out $600 ahead and also have the option of getting more lender credit. But LF is ready to close. Up to you h...

BrandonBogle

Im wondering if someone would be willing to look at some closing cost snaps for me from Better, LenderFi, and LoanDepot? Im having a hard seeing how to properly compare these. Better is not rolling costs into the loan amount, LD is rolling some/all, while LenderFi is rolling everything into the loa...

BrandonBogle

Net cost here meaning sum of ABCEFGH - Lender Credits? Not quite. A + B + C + E - lender credits E and F are stuff you already pay even if you don't refi. If you have something in H, please provide the line item detail to determine if it is a cost to refi or just a cost of having a home/mortgage.

BrandonBogle

Curious to get the opinions of the experts here. Current mortgage is 28y remaining at 4.25, 89,000 left, house appraised for 114,000. Plan on staying here for another 10 years at least. Refi 1: 30y no closing costs at 3.25. Refi 2: 30y $1,500 in closing costs at 2.875. Going with no closing costs m...

BrandonBogle

Curious to get the opinions of the experts here. Current mortgage is 28y remaining at 4.25, 89,000 left, house appraised for 114,000. Plan on staying here for another 10 years at least. Refi 1: 30y no closing costs at 3.25. Refi 2: 30y $1,500 in closing costs at 2.875. Going with no closing costs m...

BrandonBogle

I'm sure this question or a similar one has probably been posted here before but a quick search / skim could not find the answer so here goes: Some lenders have amazing rates/terms but take forever (180 days+) to close and others have good rates but will close in 30 days or less. Is there any reaso...

BrandonBogle

Pull out your closing disclosures. On page 5, look for who did the title/settlement work. Section G escrow go to LenderFi/their servicer. Section F prepaids are held by the settlement agent. Reach out to them directly to see about the payment. If you do end up paying it yourself, it is the settleme...

BrandonBogle

Happy Birthday Taylor! Like Jack, you have been an inspiration that has helped and impacted countless lives. Your contributions to all us Bogleheads and the investing community at large are cherished. I wish you the very best on this next rotation around the sun!

BrandonBogle

We have a property tax payment due Feb 1, and we prepaid them for it in section F. I am concerned they are going to miss the due date. When I called the rep couldn't help me in any way really since he couldn't pull up the loan in the system. Any advice as to what to do? I could pay the tax myself b...

BrandonBogle

Just locked in with loan flight at 2.5% on 350k. No points, no loan origination fees, no lender credits, appraisal waved. I could have decided to go with a higher rate with lender credits. But my rationale is I'll be saving $300 / month in interest alone and can pay off the closing costs I'm rollin...

BrandonBogle

Update: So Better's Closing Expert just called and told me that their "Lock Desk" flagged my refi because it's within 6 months of my last refi with them. So now they are going to push closing (which was supposed to be tomorrow) to mid-Feb. He checked with his manager and confirmed. Anyone...

BrandonBogle

Better indicated to me that although I was paying their appraisal fee it was more like a hold and since they waived the appraisal the charge would be reversed if we closed or not. Hopefully the rep was being honest. My appraisal fee was refunded the day after I got my initial closing disclosures. T...

BrandonBogle

bogledude23 wrote: ↑Fri Jan 22, 2021 1:52 pm Hey Brandon, would you mind doing a summary post of all 4 of your refis? I'm interested to read your journey I would search your posts but you have waaaay too many haha

Sure. What would like to know? Two and three were the big ones, but one and four weren’t bad either.

BrandonBogle

Well, once I told my BF, he seems to think that any problem I have can simply be wiped away with a check book and what's even worst, he actually said that on one of my Face Book posting, he actually posted my net worth! So I learned the hard way, to keep this info to only those with a need to know....

BrandonBogle

My original estimate had a loan value estimated based on my principle balance as of 1/1... which leaves me bringing $500 to the closing table for prepaid interest (fine with me as I can write a check for that amount)... Now in the final disclosure they get the actual payoff (calculated with interes...

BrandonBogle

For those comparing between the Preferred and Everyday cards, check your benefits. Amex dropped a lot of stuff from the Everday card in 2020, like return protection and other such things.the Preferred card still has these. I'm not sure those benefits are really worth $95/year, though. Amex return p...

BrandonBogle

Is a combination of the cheapest loan rate and lowest payment always the top priority? No, we generally do not advocate paying points. In fact, we generally advocate getting negative points to cover the closing costs. Is it very unusual or unreasonable for a borrower to pass up their lowest-rate op...

BrandonBogle

What you are not accounting for is that Charlotte, NC, is still insanely cheap compared to HCOL areas. In your opinion, would you classify Charlotte as LCOL or MCOL? I have always heard we are MCOL. I know of a lot of places much LCOL than us I live in Charlotte and MCOL is what I would say as well...

BrandonBogle

For those comparing between the Preferred and Everyday cards, check your benefits. Amex dropped a lot of stuff from the Everday card in 2020, like return protection and other such things.the Preferred card still has these.

BrandonBogle

When my wife stops working for this company, she would have to roll these roth after-tax conversions into an IRA? How does this work? Do you need to sell investments to roll cash over, or do you just allocate a portion of the investments into a new IRA ? You will not sell anything yourself. You sub...

BrandonBogle

For those keeping track of Radian and Better, my current refi with Better (4th on the same property since May 2020) hit a glitch. I kept reminding Radian about the reissue discount, but it never got applied. Finally someone at Radian was able to explain that Better’s contract with Radian (for NC) do...

BrandonBogle

Regarding the title company correcting prepaids and escrow, I have to get all three lenders to the point in the process where they're working with the titling company? I think this is where I am getting confused because Im not how far I can go with each lender without locking myself into a deal tha...

BrandonBogle

Actually if I get it right, with the lower rate, I'm paying more in each payment toward the principal. So after 6.8 years the payments difference will offset the $4k cost but the loan balance will be lower. So the break-even point actually happens sooner at around 4.5 years. Does this make sense or...

BrandonBogle

UPDATE: My local broker came back with 2.750 that will cost $142.80 with a 22-day closing window. He indicated that $0 cost would have been a 2.758 rate. Im not sure I understand all of that, but ok. He asked and I told him to move forward to lock in the rate and submit for underwriting. Now, I hav...

BrandonBogle

[Then if Radian is available (I'm not sure what states they're in), you save the difference in cost between them and Better's title company ($200 in my case). So even though Better beat the original offer by $100, I ultimately wound up $850 ahead. In my case, I had a preferred local settlement agen...

BrandonBogle

hi_there wrote: ↑Wed Jan 20, 2021 2:55 pm What you are not accounting for is that Charlotte, NC, is still insanely cheap compared to HCOL areas.

In your opinion, would you classify Charlotte as LCOL or MCOL?

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