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Quick qstn - I'm receiving HRA of 24075 from my employer but I would like dhow the rent paid as 96k p.a (while filing ITR). Even if I do so, I was only able to get exemption of 24075 from gross. Checking if we can speak to payroll department to increase Actual HRA since I'm actually paying more rent than compared. Will I be able to do so ?Deloitte Newco EY Accenture Genpact KPMG
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McKinsey & Company Anyone at McKinsey & Company willing to refer a Marine veteran (OIF, I swear I will not eat all the crayons. "Crayons" are for art is what my wife tells me to tell myself)
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I'm looking for a role in McK serving O&G, industrial, capital projects clients. Open to generalist roles as well. Can review for vetting.
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Sometimes the interest rate is better for a VA loan and less closing costs depending on disability rating. That said, a lot of sellers don’t want to deal with the inspections that come with VA loans and will take another offer over VA because of it. It’s not legal but hard to prove that’s what they did. I’ve used VA loan for several houses as we’ve moved around but never put down 20% because I’d prefer to not take money out of the market that is getting me better returns than what a slightly lower mortgage payment gets me. No PMI on the VA loan is one of the best benefits
I’d realize some and buy down the rate a little but don’t want to pull too much from my portfolio when I could refi when rates come down in the future.
One of the biggest benefits in my mind is the interest rate reduction refinance loan (IRRRL). The process and cost to refinance through IRRRL instead of a conventional is a huge advantage of the VA loan. Especially given the current high interest rates.
Conventional refinance does require an inspection.
Lower interest rate would be the advantage. Bear in mind that it can only be used on your primary home.
If you are paying the funding fee, it makes you somehow haven’t received 10% VA disability - which is super easy to get, and gives you an exemption from the fee.
But yes - you’d need to do a DCF to understand what the fee will be worth relative to the extra interest of a conventional mortgage until you refinance, likely 1-3 years from now
oh I was non-deployed NG lol, no disability
can do DCF tho, will try it out
No closing costs
I had good luck with Guaranteed Rate - but shop it out on Bankrate or similar source. It’s a pain to submit the applications but only the first hard credit pull matters.
I've used the VA loan twice.
1. I was single at the time. Advantage was low money down. Home was in HTX, I was a homestead owner (which reduces property tax by 15%. Rented it after I lived in it for 3.5 yrs.
2. Second time, was with my partner (also a vet). The advantage was that our interest rate was stellar (5.7 as everything shot up into high 6/7), no PMI, and on paper, we could waive inspection, etc. in this goofy market. Funding fees weren't a problem in our case.
We'll use it again if it gets us a better rate in the future compared to other options.
You should also consider the opportunity cost of putting down 20% to pay down debt (7% interest) when you could use those funds towards an investment with a higher rate of return (13% avg ROI for S&P500 index)
Prices rising benefit you as a homeowner as well as rate drops - you marry your loan but you date your rate.
Once the loan terms are set, that’s your payment ceiling, you can count on that to go down during a refinance (which will be at a reduced cost thanks to the IRRRL).