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poway_seller
Participant100 from Google today
Participant100 from Google today
Participant100 from Google today
Participant100 from Google today
January 15, 2009 at 12:17 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329336ParticipantThe main premise of the argument is that by getting the loan to a Conforming Rate she will be able to save 1% on the loan.
“If she uses this 40k to bring down her loan to the confirming loan range and brings her rate from about 6% to 5%”
If this means getting it to below $546,250 in San Diego county from a Jumbo, then YES, 1% or more is likely correct.
However…
If this means she is trying to take the loan from $457,000 to $417,000… then the argument is NOT as valid as at $457 (up to $526.25k) one can do a “jumbo conforming” for what has recently been roughly 0.25% higher than the regular conforming loan. So a savings of only .25% is in question, and that may not be worth borrowing from the 401k for.
January 15, 2009 at 12:17 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329678ParticipantThe main premise of the argument is that by getting the loan to a Conforming Rate she will be able to save 1% on the loan.
“If she uses this 40k to bring down her loan to the confirming loan range and brings her rate from about 6% to 5%”
If this means getting it to below $546,250 in San Diego county from a Jumbo, then YES, 1% or more is likely correct.
However…
If this means she is trying to take the loan from $457,000 to $417,000… then the argument is NOT as valid as at $457 (up to $526.25k) one can do a “jumbo conforming” for what has recently been roughly 0.25% higher than the regular conforming loan. So a savings of only .25% is in question, and that may not be worth borrowing from the 401k for.
January 15, 2009 at 12:17 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329749ParticipantThe main premise of the argument is that by getting the loan to a Conforming Rate she will be able to save 1% on the loan.
“If she uses this 40k to bring down her loan to the confirming loan range and brings her rate from about 6% to 5%”
If this means getting it to below $546,250 in San Diego county from a Jumbo, then YES, 1% or more is likely correct.
However…
If this means she is trying to take the loan from $457,000 to $417,000… then the argument is NOT as valid as at $457 (up to $526.25k) one can do a “jumbo conforming” for what has recently been roughly 0.25% higher than the regular conforming loan. So a savings of only .25% is in question, and that may not be worth borrowing from the 401k for.
January 15, 2009 at 12:17 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329776ParticipantThe main premise of the argument is that by getting the loan to a Conforming Rate she will be able to save 1% on the loan.
“If she uses this 40k to bring down her loan to the confirming loan range and brings her rate from about 6% to 5%”
If this means getting it to below $546,250 in San Diego county from a Jumbo, then YES, 1% or more is likely correct.
However…
If this means she is trying to take the loan from $457,000 to $417,000… then the argument is NOT as valid as at $457 (up to $526.25k) one can do a “jumbo conforming” for what has recently been roughly 0.25% higher than the regular conforming loan. So a savings of only .25% is in question, and that may not be worth borrowing from the 401k for.
January 15, 2009 at 12:17 PM in reply to: Does it make sense to borrow money out of 401K to refinance? #329860ParticipantThe main premise of the argument is that by getting the loan to a Conforming Rate she will be able to save 1% on the loan.
“If she uses this 40k to bring down her loan to the confirming loan range and brings her rate from about 6% to 5%”
If this means getting it to below $546,250 in San Diego county from a Jumbo, then YES, 1% or more is likely correct.
However…
If this means she is trying to take the loan from $457,000 to $417,000… then the argument is NOT as valid as at $457 (up to $526.25k) one can do a “jumbo conforming” for what has recently been roughly 0.25% higher than the regular conforming loan. So a savings of only .25% is in question, and that may not be worth borrowing from the 401k for.
Participant“I can pick ’em. My timing is often great. But I sell too early.”
Turn yourself off. go to an investment blog if you want to keep posting your trading ideas, not a real estate blog.
Participant“I can pick ’em. My timing is often great. But I sell too early.”
Turn yourself off. go to an investment blog if you want to keep posting your trading ideas, not a real estate blog.
Participant“I can pick ’em. My timing is often great. But I sell too early.”
Turn yourself off. go to an investment blog if you want to keep posting your trading ideas, not a real estate blog.
Participant“I can pick ’em. My timing is often great. But I sell too early.”
Turn yourself off. go to an investment blog if you want to keep posting your trading ideas, not a real estate blog.
Participant“I can pick ’em. My timing is often great. But I sell too early.”
Turn yourself off. go to an investment blog if you want to keep posting your trading ideas, not a real estate blog.
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