Refinance my current mortgage? I can reduce my interest rate by 0.375%. Closing cost is $1500. My monthly interest payment would go down by $200

like
Posting as :
works at
You are currently posting as works at

Is that including the new rules on refinance fees? I had thought the target to refi is a half %.

like

The old rule or guideline was it generally made sense to refi if you could drop your rate by a percent (for example 5.25% to 4.25%). Now with lower rates and lower closing costs it can make sense for smaller reductions.

Saving 200 on interest implies $640k mortgage, how are the closing costs so low?

Interesting, I guess I didn't consider lender credits. My state mortgage tax and title fees alone were that much and my loan is half the size of yours.

Why wouldn't you do this if the cost is so low? It pays for itself in under a year.

Go for it! That’s $200 you can channel elsewhere to work for you. Considering you are not selling anytime soon.

I didn't do the math, but I have a 2 year roi. If you can't pay for it in 2 years (24 mo or less) don't do it.

I'll do the math...
1500/200 = 7.5 months

Plus they'll likely skip a mortgage payment.

I'd do it.

Related Posts

Should we wait or sell the SAP shares as it just came to good level from a recent low? And one more thing should we continue to own SAP?

Looking for some objective response based on financial numbers if anyone can share.

like

Tesla Tesla Tesla, Tesla

Buy? Sell? Tesla?

Tesla Tesla.... Tesla

Sincerely,
Tesla

like

Moving to Boston from Atlanta with a salary of 135K. 28 YO with a net worth of 250 K. Anyone have any input on the rent I can afford ? Not looking to buy because I want to move overseas in 1/2 years. I just want to be comfortable.

like

Long shot, maybe. Looking for a town home to rent (6-9 months) in Atlanta, preferably in and around Alpharetta. Plan is to rent until we finalize on a house, hopefully by the end of this year.

Anyone have a rental property that has the LLC on title? Like actually bought the property under LLCs name. Looking for some info. Not the quitclaim deed route.

like

First time home owner in Chicago - looking to get a bathroom renovation (8x7’). Want to replace bathtub with walk in shower, new vanity, repaint, new fixtures, tile floor.
Quotes have come in starting from $25k. This was significantly over expectations - looking to see if others thought this was crazy high too?

like

Anyone investing in REITs hoping it to bounce back? I see some of the prices are lower than 08/09. Top picks?

like

Relocating from the west coast in late spring. We have three kids under 6. School system is important to us. Thinking relocating to the Lake Norman area or Fort Mills. Pros and Cons. Looking to purchase a house and sq at least 3250-3500 min. Any advise for the area.

Did anyone else get annhilated with social CPMs over holiday? Facebook is outrageously expensive nowadays, and Tiktoks rate card is literally doubling quarter over quarter.

Where are media teams seeing efficiencies?

like

Got my first job working retail! I'm so excited. I'm only 18 and I know it's not that much but I'm happy that I get to earn my very own money.

like

My signifigant other and i spend about 5k a month for everything at 26/27 years old. Is this a reasonable amount? Combined annual income is about 145k. Trying to determine if there is a lot we should be cutting back on

like

Current 50% HWB Trading, 3112.25. Long at 3112.25. Failure at 3108.00. Remain Bullish above 3108. Objective 3137. Watch the market and our trades live on Twitch at

Post Photo
like

Is there any way to get a Singapore (+65) SIM card and phone number outside of SG?

Bought TVIX yesterday to cover losses in my portfolio, recovered everything and then some

Post Photo
like

How much (in %) are you guys putting in for your 401k?

like

Book recommendations on financial leverage. I want to understand how debt can be used as tool and when to borrow etc

like

Do you have any rules of thumb for what to do with bonuses? After taxes & 401k contributions, I’m trying to decide what to do- looking at balancing: 1)immediate gratification 2)long term wealth creation & 3)mid term savings such as expensive home projects and/or future down payments on next home. Sitting on ~$30k post tax/401k bonus and trying to decide how to allocate across 3 areas. Also deciding if it makes sense to set a standard for me and my wife(similar comp) to follow for future bonuses.

like

I’ve been seeing a lot of 🐠 post about buying homes lately. Is there a real estate trend that I’m missing out on?

like

Anyone enjoy being a realtor just to view different homes? Lol

like

For people here making less than 100K who max out their 401K / HSA, can I have a conversation with you about your taxes paid ? Is it significantly less or is your take home significantly less ? Trying to assess the financial impact to my take home if I max out my 401K. Ty!

like

More Posts

Recommendations for best recruiters for senior account level positions? Chicago only please

Saw this in a another bowl but wanted to ask here. For those fish that are in their 30’s and up, what advice would you give your 20 something self?

like

The rebrand to Meta is just a way for the Zucc to avoid his media failures with Facebook, change my mind.

likefunny

I forget things a lot and my attention span has drastically reduced.
Anybody else facing these ? 🙁

like

Hi All, I'm looking for a job change in PMO profile Microsoft . Appreciate if you can help me with any referral.

TIA

I’m new to the world of billable hours. I like to keep organized, so I do spend a small bit of time making/updating case lists and contact sheets to make sure I have record of last contact with client/OC, where I am in suit, relevant deadlines, etc. Do you bill for this kind of work?

like

What GAAP knowledges do they expect you know if transitioning to FDD as a senior?

like

Please advise I am Looking . MBA from tier 2 college + 4 years experience in a less know company in India doing analytics( Tableau +SQL+Alteryx) for US and European clients ( also traveled to the US and Europe).

like

Sixers and suns tonight?

like

Producers/CD’s/Designers, I’m in need of a talented illustrator. Please link to your favorites below!

like

Hi folks, do any good resources come to mind for benchmarking tech BizOps salaries based on funding round, company size, valuation, etc? About to go to salary negotiation and want to be well-prepared

Opposing Counsel refuses to acknowledge me in any emails, doesn’t answer my phone calls, and does not include my name on the signature line on any documents even though I am the handling attorney on this file. He only includes my supervising attorney and only responds to her. It’s so frustrating. Why are ppl like this?? What can I do? Should I continue to be annoying and email/call him?

like

Hello, looking for supervisor positions in healthcare within NYC, I am looking to start ASAP. I have my Bachelors in Health Services Admin and Economics, 5 years of experience in the industry and I am currently working towards my PMP certification, as well as going for my MBA or MHA, depending on what program I can afford. I am currently located in Queens. Thank you!

Hello, lmk if you need help with Metrc!

For those starting school this year, how do you stay motivated to do the bare minimum at work when you are sooooo ready to GTFO 😐

like

Hey guys!
Can anyone help out with an internal referral to Deloitte and/or Google? (Remote, but live in SoFla)
I have ~5-6 years of industry experience working in a matrix environment with pharma/biotech and previously at Mayo Clinic. I’m looking to make the hop into either a more tech /consulting role that I can streamline my previous experience into a new industry entirely 😰.

like

Hi! Does anyone know if Google Ads hire young agency people? I will soon have 1yoe, and have experience in programmatic, familiar with DV360. Any advice would be great, thank you!

like

What does someone do after being a Business Affairs Manager? I’m looking for a change!

like

Additional Posts in FIRE Financial Independence Retire Early

Is it silly to put all of your investment income into one ETF (e.g., SPY) and just ride it or should you diversify? $100k for context.

like

Has anyone ever utilized their company’s sabbatical program?

Thinking about starting to take annual (or more likely, every other year) sabbaticals once I’ve reached a level I’m happy with in the company (not racing for more promotions)

If you’d never, ever take a sabbatical, would appreciate that insight too.

like

Anyone stop contributing to 401ks/IRAs and solely focus on saving cash to use as down payments for investment properties? Just looking for a way to break into rental properties and don’t have the salary to support maxing 401k and IRA and save for 20% down payments on single family type homes ranging in the $400k-$500k price range.

like

Can someone help me with this? I had a low utilization since pandemic, I.e., ~sub 5%, but never missed any payments. Would credit score be impacted if only one line of credit with a low utilization?

Too few accounts currently paid as agreed
FICO®

Scores consider the number of accounts that are paid as agreed. Your score was impacted because the number of these accounts is too low, or because you've missed payments recently on some of your accounts.

like

I’m super burned out, I just turned 28 years old have around 150k saved up, would taking a year off with no job lined up to travel the world be a bad idea? Part of me really wants to do it, but then part of me is scared. Tbh I’m the stereotypical guy who always played it safe when it comes to life and feel like this could be fun and different, any advice/recommendations would be appreciated!

like

I’m trying to retire by the age of 45. I’m currently 27. I stash away $1,000 each month into my 401k plan (this includes my employee match). I spend around $2,000 on renovation each month for a home I recently bought. My parents and own a total of 3 homes and they’re all cash bought. My portion of equity is around $162k. I have around $20k in my 401k. $17k in student debt. $6k in debt (kitchen remodel and a portion of the AC we bought). Is it possible for me to retire soon?

like

Sell my house now at $450K (vs. $390K purchase price in Apr 2021) and pay 30% capital gains tax OR wait until Apr 2023 to sell avoiding capital gains but risk market uncertainty? The house is in a Maryland suburb of Washington, DC.

like

Why would you RE ? Just curious

likefunny

MBR question. I’ve never done one. Currently contributing ~$1000 into taxable per month. max 401k, HSA, Roth IRA. Company plan allows after tax contributions and in service distributions, so I think that means it’s a MBR green light. My plan is at empower so everything is done on paper, very cumbersome process, and there is a $40 fee for each in service distribution. I believe when I make an after tax contribution, it gets invested based on my investment options for my 401(k)? More in comments

like

Are 529 plans worth it? Just had a child and trying to look forward and figure out finances... Any advice is very much appreciated :)

like

Thoughts on GlobalX ETFs? The company in general, any specific ETFs you like/dislike, their expense ratio, how to leverage their offerings for FIRE strategy, whatever…. Leaving this open ended in an attempt to spark convo.

like

Hello EY 🐠. Does anyone know if it is possible to download a list of securities restricted for employees? Very cumbersome to search every last one.

I have a strict budget, max 401k/IRA, and invest in broad market index funds. If I’m not getting a raise/bonus till year end, is all that’s left just to... work and collect my paycheck? Feels like the entire year is planned out now

like

Best wealth/net worth tracking app for people with accounts in both US and UK?

like

What are some of the best ways to first start earning a passive income? I’m 26, currently still renting and total comp of my job is 150k/yr.

like

What was the least “FIRE” thing you did / purchased but have 0 regrets about?

i.e. bought your dream car

like

Everyone in this group agree index funds are supreme for long term wealth?

like

I have about £100k sitting in my savings account, most of it I likely will not need in the next 5 years or even 10. Any advice on where I should put it to generate some additional income?

like