Search found 16 matches

by orklc
Mon Aug 03, 2020 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1760
Views: 164818

Re: My LenderFi refinance is going well

I can post a more complete timeline now. June 11: applied. locked (15 yr @ 2.0% with total fees of $7.25k on a ~470k loan. Appraisal waived. Making a further round of refinancing unlikely was key to getting DW to agree to refinance away from our local CU, hence not aiming for the no-cost route). Re...
by orklc
Wed Jul 29, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1760
Views: 164818

Re: My LenderFi refinance is going well

I can post a more complete timeline now. June 11: applied. locked (15 yr @ 2.0% with total fees of $7.25k on a ~470k loan. Appraisal waived. Making a further round of refinancing unlikely was key to getting DW to agree to refinance away from our local CU, hence not aiming for the no-cost route). Re...
by orklc
Wed Jul 29, 2020 7:58 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1760
Views: 164818

Re: My LenderFi refinance is going well

I can post a more complete timeline now. June 11: applied. locked (15 yr @ 2.0% with total fees of $7.25k on a ~470k loan. Appraisal waived. Making a further round of refinancing unlikely was key to getting DW to agree to refinance away from our local CU, hence not aiming for the no-cost route). Rec...
by orklc
Fri Jul 17, 2020 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1760
Views: 164818

Re: My LenderFi refinance is going well

Do your guys disclosures say Lenderfi intends to service the loan? I know that was the case back in April and there were some hiccups. My disclosures from this week say that they intend to transfer servicing of the loan. My closing packet (not the closing disclosure) had one page that said somethin...
by orklc
Fri Jul 17, 2020 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1760
Views: 164818

Re: My LenderFi refinance is going well

There was some discussion earlier in this thread about servicing back in April. Does anyone have more recent examples of how long it took between loan funding and getting a servicing account set up? Was that before or after the first payment due?
by orklc
Wed Jul 15, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1760
Views: 164818

Re: My LenderFi refinance is going well

I had my remote closing on Monday 7/13 (3.875%, 30 yr), but have not heard anything since. Anyone know what the timeline is for funding a refi? Should be three business days after the closing. The disbursement date should be listed on your closing disclosure. In my case the old lender recorded the ...
by orklc
Tue Jul 07, 2020 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10203
Views: 732783

Re: Refinance Mega Thread

We locked a 15 year fixed with lenderfi yesterday at 2.0%, with total points&fees of 1.49%, and the appraisal waived. Paying points is definitely a different approach from what I've read most others choosing instead (the no/low fee options at 2.5 or 2.375 for a 15 year), but it seems to make se...
by orklc
Sun Jul 05, 2020 3:02 pm
Forum: Investing - Theory, News & General
Topic: Median Debt to income ratios
Replies: 2
Views: 503

Re: Median Debt to income ratios

There's a description of the data source at https://www.federalreserve.gov/econres/notes/feds-notes/household-debt-to-income-ratios-in-the-enhanced-financial-accounts-20180109.htm , but that doesn't quite answer your question. My guess is that the proper units for what they're labeling as DTI is a t...
by orklc
Fri Jun 26, 2020 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10203
Views: 732783

Re: Refinance Mega Thread

Today looks like it could be a good day to get rates locked. The fannie mae wholesale prices this morning are both lower: https://singlefamily.fanniemae.com/imported-content/ape-historical-yield/current-15-year-fixed https://singlefamily.fanniemae.com/imported-content/ape-historical-yield/current-30...
by orklc
Tue Jun 23, 2020 10:55 am
Forum: Personal Finance (Not Investing)
Topic: How do people sell a house and buy one at the same time?
Replies: 46
Views: 5693

Re: How do people sell a house and buy one at the same time?

We kept the price of the next house low enough that we could qualify to carry both the old and new mortgage at the same time, which was a very different amount from our own notions of what we could afford long term. We got a longer term mortgage and put less down on the new house than we intended to...
by orklc
Wed Jun 17, 2020 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Refi Options
Replies: 12
Views: 1005

Re: Refi Options - Jumbo in MA

hfcu.org quotes rates in your range, though the 15 year and the arm rates are more attractive than the 20 year rates. I've not applied for a mortgage with them (down into the conventional range now), but I have had masssave loans with them.
by orklc
Fri Jun 12, 2020 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10203
Views: 732783

Re: Refinance Mega Thread

We locked a 15 year fixed with lenderfi yesterday at 2.0%, with total points&fees of 1.49%, and the appraisal waived. Paying points is definitely a different approach from what I've read most others choosing instead (the no/low fee options at 2.5 or 2.375 for a 15 year), but it seems to make sen...
by orklc
Wed May 09, 2018 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance Question
Replies: 4
Views: 960

Re: Disability Insurance Question

Based on your other post it isn't clear that you need disability insurance at all anymore, which is a great position to be in. If you read other threads discussing at what point to drop (individual) coverage the responses seem to be either to drop it when you've reached FI, or to keep it until the p...
by orklc
Thu Apr 05, 2018 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: House down payment - Smart for anything between 3.5% and 20%?
Replies: 23
Views: 2907

Re: House down payment - Smart for anything between 3.5% and 20%?

I don't disagree with the repeated suggestions to wait until 20% down. That said, I've purchased two houses, and put less than 20% down each time, and paid PMI for a short period of time as a result. In the first case we put 10% down. Could we have put more down, yes, but keeping a larger buffer for...
by orklc
Wed Dec 27, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Comparing Housing values
Replies: 9
Views: 1283

Re: Comparing Housing values

One (certainly oversimplified and therefore wrong, but perhaps still useful) way to compare would be to ask how much money you'd need to have right now to purchase each house outright, and have enough left over to pay the property taxes ~forever. Applying a 4% withdrawal rule for each $10k of annual...
by orklc
Sun Jan 04, 2015 12:21 pm
Forum: Personal Investments
Topic: Early Backdoor Roth if Unsure of AGI?
Replies: 5
Views: 910

Re: Early Backdoor Roth if Unsure of AGI?

After a few years of making backdoor roth contributions after the end of the year I've also switched to doing them at the beginning of the year now that I'm committed to tracking nondeductible tIRA contributions forevermore. As far as I know the only potential downside vs a direct rIRA contributions...