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(╯°□°)╯︵ ┻━┻ sʞuoʇS

Discussion in 'Stocks & Investments' started by kairo, Oct 6, 2020.

  1. May 5, 2021 at 12:18 PM
    gpb

    gpb Well-Known Member

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  2. May 5, 2021 at 12:19 PM
    kairo

    kairo [OP] >_>

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  3. May 5, 2021 at 12:24 PM
    TreeFortRichard

    TreeFortRichard Hmmm..$o many repairs?

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    42.3115167,-71.6638516
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    Well...just follow this detailed plan...
    [​IMG]
     
  4. May 5, 2021 at 12:25 PM
    TreeFortRichard

    TreeFortRichard Hmmm..$o many repairs?

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    Holy shit I spelled OFF wrong and I'll sit here and stew in it like a good little boy :)
     
  5. May 5, 2021 at 12:27 PM
    gpb

    gpb Well-Known Member

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    yeah, right?

    Guess we shoulda gone that route instead of refinancing to a 1.99% 15yr fixed. :D
     
    Fohu and TreeFortRichard like this.
  6. May 5, 2021 at 12:28 PM
    TreeFortRichard

    TreeFortRichard Hmmm..$o many repairs?

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    That's almost the same equation of $$ vs Inflation...
     
    GarlicFarts likes this.
  7. May 5, 2021 at 12:28 PM
    gpb

    gpb Well-Known Member

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    *shrug*

    it works with the handwriting style...


    :boink::D
     
  8. May 5, 2021 at 12:30 PM
    gpb

    gpb Well-Known Member

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    Yep. We were three years into a 3.875% 30yr fixed and no plans to move in the forseeable future (10-20yrs), so it was truly a no-brainer.
     
  9. May 5, 2021 at 12:43 PM
    TreeFortRichard

    TreeFortRichard Hmmm..$o many repairs?

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  10. May 5, 2021 at 12:52 PM
    GarlicFarts

    GarlicFarts Bang Ding Ow

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    We just re-fi'd from 4.25 down to 2.625, and in doing so ditched PMI.

    If we wouldn't have ditched PMI, there was a maybe we would have left it. BUT we were also 3 years in (Sep 2017 to Jan 2021), we DO have plans to move but closer to 2+ years out, with ditching PMI not being "free" anyway (unless we dropped like 20k onto the mortgage to bring the principal down), for only a few more bucks we re-fi'd and got a lot out of it, and will be in the green by ~October this year, if I remember my math correctly.
     
    CowboyTaco and TreeFortRichard like this.
  11. May 5, 2021 at 12:53 PM
    GarlicFarts

    GarlicFarts Bang Ding Ow

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  12. May 5, 2021 at 1:08 PM
    kairo

    kairo [OP] >_>

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    And another day of GME hitting record low volume. Nothing to see here, fair and unbiased markets.
     
  13. May 5, 2021 at 1:08 PM
    Fohu

    Fohu Well-Known Member

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    hopefully picked a good day to try my luck with some tqqq 106$ calls
     
  14. May 5, 2021 at 1:16 PM
    gpb

    gpb Well-Known Member

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    yeah, ditching PMI also helps a lot -- particularly if during closing you get a higher appraisal helping your LTV

    As you say - breakeven is really the key factor. For us that'll be 12 months from closing, so even if we have a surprise in two or three years we'll still be way ahead.
     
    GarlicFarts[QUOTED] likes this.
  15. May 5, 2021 at 1:20 PM
    Slashaar

    Slashaar Trail Limo Supreme & Certified Hole Massager

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    So I'm confused, is the 20% just the percentage of the homes appraised value or 20% of the original bank note? I need to refinance (my rate is 5.54%) but I'm not sure we've paid in 20% of the original note and don't currently pay PMI because of the First Time Home Buyers Loan we used. Rates right now would shave our long term costs tremendously!
     
  16. May 5, 2021 at 1:20 PM
    BudFriendguy

    BudFriendguy TRD BRGLR

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    Guise wadu heck wen Ritch?!
     
    98tacoma27 likes this.
  17. May 5, 2021 at 1:24 PM
    gpb

    gpb Well-Known Member

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    PMI is typically based on loan balance vs home value.

    When you buy it they base it more on the purchase price than appraised value as I understand it - yet if the market is going up a later refinance can sometimes get you out of PMI.
     
  18. May 5, 2021 at 1:27 PM
    Slashaar

    Slashaar Trail Limo Supreme & Certified Hole Massager

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    Well my OG bank note was 3.5% down on $172500 2 years ago and zillow (not the best judge of value, I know) shows $192,000 - $258,000 estimated. Considering its a sellers market right now I'd imagine our value has shot up.
     
    TreeFortRichard likes this.
  19. May 5, 2021 at 1:40 PM
    gpb

    gpb Well-Known Member

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    I'd leverage zillow to look at closed sales of similar homes in your area to see what stuff is actually going for - realizing you won't know about any seller-paids or other concessions. Still would give you a sense of what you might be looking at. Also check what's recently listed that's similar; while not directly a comparable it's also a source of info if you then track what it ended up selling for.

    We used Sage Mortgage for our refi and had a great experience. Very smooth, no surprises or attempted shenanigans, and closed in four weeks. In full disclosure our loan to value was under 80% and my wife & I both have excellent credit; rates may be different for other situations.
     
    Slashaar[QUOTED] likes this.
  20. May 5, 2021 at 1:44 PM
    Slashaar

    Slashaar Trail Limo Supreme & Certified Hole Massager

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    Kansas City, MO
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    Coastal HC Front, 6112s+650lb King Coils, JD 62 Swap + 14" Fox 2.0s
    So doing some quick maths I'd need to get appraised somewhere in the realm of 210k to be over the threshold for 20% and not get hit with PMI. Though it wouldn't be a big deal if its a year if we could lock in that lower rate.
     

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