I need to refi rates look amazing

[Coronita]

Provident is showing this BTW:

https://www.provident.com/

[an]

[quote=flu][quote=AN][quote=flu]I envy you guys. I wish I had a home worth taking a 30year out on right now…[/quote]Cash out refi?[/quote]

You’re killing me and mocking me at the same time, lol…..

I’m an old man now… And old fart… I’m expecting my AARP card in the mail anyday now, and I think I should go shop for an oldsmobile. The thought of having another 30 years to go….Dude….I’m going to be eating out of a straw…

No sir, only going to happen with another home purchase….I can’t find anything good though. Rental or Primary…[/quote]I don’t get it. If you’re OK with buying a new home now with a loan, then why not do a cash out refinance? Isn’t that essentially the same?

[Coronita]

[quote=AN][quote=flu][quote=AN][quote=flu]I envy you guys. I wish I had a home worth taking a 30year out on right now…[/quote]Cash out refi?[/quote]

You’re killing me and mocking me at the same time, lol…..

I’m an old man now… And old fart… I’m expecting my AARP card in the mail anyday now, and I think I should go shop for an oldsmobile. The thought of having another 30 years to go….Dude….I’m going to be eating out of a straw…

No sir, only going to happen with another home purchase….I can’t find anything good though. Rental or Primary…[/quote]I don’t get it. If you’re OK with buying a new home now with a loan, then why not do a cash out refinance? Isn’t that essentially the same?[/quote]

No it isn’t. If something unexpected happens, if I take on a new loan on a new place, I can walk away from it and still live in the old place…

If I cash out refi on my old place and use it to pay for the new place, I stand to lose both places, since it is unlikely a cash out of the old place will complately pay for the new place.

Also, a cash-out is typically limited to 75% of equity….Versus 20% is available on a new place…I’m half serious about trying to put the bare minimum on the new place…

[no_such_reality]

If the house is paid off, you’re only on the hook for the taxes, which will amount to $500/month +/- a couple hundred a month.

It’s a cash flow issue, risk issue, tax issue and time management issue. The paid off living arrangement minimizes the negative impacts of all four of those issues.

Sure, you could extract money, invest it, make more, pay taxes, spend time fretting, managing the investment etc, but it’s all on leverage.

Sometimes, leverage is good.

Sometimes leverage is bad.

[Coronita]

For me, I think I’m at a point in life in which if I do something stupid, its far more damaging that not taking the risk. Granted, it’s unlikely I would ever lose my home, but I don’t want to open that up to the possibility. I figure buying a new home and starting over has less risk that mucking around with my first primary. So if all else fails, there’s always something else to fall back on. The only thing is that I can’t bring myself to opening a checkbook to a home that costs $1.3m-ish…I don’t think that would even get me into a good Pardee tract home home right now (which isn’t necessarily something I particularly want, but….)…Some of the homes in Pardee community in Sorrento Heights costs more than I paid for my home in Carmel V…So, it’s just crazy out there right now.

https://www.redfin.com/CA/San-Diego/11024-Fall-Crest-Way-92126/home/40948067

And no one else is really selling in that area….

[no_such_reality]

Yea, that’s were I’m at. I’ve broken my networth down into piles.

This is my living pile. Everything goes sh*t, we’ve still got a roof over our head.

This is my security blanket pile, if a bunch of stuff goes to sh*t, I can still pay for the essentials my kids need to get them flying on their own.

The rest is the invest pile. into varying degrees of risk and effort.

As for you AARP card, it’ll show up 3 months before your 50th birthday.

[treehugger]

Appears sebonic is holding the lead with 3.25 and almost $2000 credit, if it holds til I get back to the States on Thursday I think I will pull the trigger.

[utcsox]

[quote=treehugger]Appears sebonic is holding the lead with 3.25 and almost $2000 credit, if it holds til I get back to the States on Thursday I think I will pull the trigger.[/quote]

Really? Can you share with me on how you find this amazing deal? Thanks.

[utcsox]

[quote=treehugger]Appears sebonic is holding the lead with 3.25 and almost $2000 credit, if it holds til I get back to the States on Thursday I think I will pull the trigger.[/quote]

Really? Can you share with me on how you find this amazing deal? Thanks.

[moneymaker]

Getting awfully close to 30 year us treasury rate record. Record is 2.25 and we are at 2.29 now. May consider refi to roll solar Heloc in, 10 year at 1.46%

[treehugger]

https://www.zillow.com/mortgage-rates/ca/#filters=266216&request=ZR-FRZYJRYS&purpose=Refinance

Sebonic is still showing 3.25 with $1 in fees (not including 3rd party) and a $1989 credit.

Would seem like some lender would see some value in offering us a group discount??

[an]

I think I know where the differences in rates we’re seeing coming from. Base on the link from treehugger, the assumed LTV is <50%. I was assuming about 60% LTV. Rates/credit would be different between those two assumption and would also be different for those who assuming 80% LTV.

[poorgradstudent]

We just refinanced in January for what I thought was a spectacular rate (no cost, shaved 0.25% off our original purchase rate), but it looks like they are down 0.25% since we refinanced.

[no_such_reality]

Online qoutes are a bit flakey, but equity <=25% seems to be +1/8th. Balance between $417K + $650K +1/8th pt. Over $650K, +1/4. So under $417K and over 25% equity and I see lots of 3.25% and $1 fee listed.

[FlyerInHi]

8 years since the financial crisis. Still no dollar debasement or hyperinflation.

I still have an adjustable rate mortgage.

[Author]

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