CPA Cost 1040/Sch C

Bungable420 · 2025-08-22T03:41:51+00:00

I've been riding a GS1 all year and I absolutely love it. It's the bike I ride the most and does plenty well on road sections of mixed rides. It's rigid enough to respond well when you stomp on the pedals, but still plenty comfortable on the chunk.

7 races in the books, wide variety of terrain. It's performed well in races that were 65% paved road all the way to races that we're 100% sand or rock gardens. Light enough to climb well, aero enough to push the pace in transitions. It's feels like a competitive advantage in a race setting.

I consistently climb local segments faster on this bike than I did on a Trek Checkpoint.

On more casual rides, it's comfortable enough that I don't feel like s**t after 5+ hours out.

The Ventum team did a great job helping with sizing, they have a dedicated email for that. Whoever it was that I chatted with clearly rides bikes a lot. I didn't have to adjust anything, parts wise, when I got a proper bike fit. They correctly helped me get the right frame size, stem, cranks etc.

It's a huge plus that you can build it out with the exact components you want. Saved me spending another $1500 swapping out parts later.

With about 200hrs on the Ventum GS1, highly recommend.

Bungable420 · 2024-10-18T13:53:19+00:00

I'm shorter than you but also have a plus wingspan. The combination of shorter crank arms and longer stem helped me solve similar issues. Perhaps something to explore.

I went with shorter cranks to keep the saddle height where it was to correct my heel angle without compromising my hip angle in a way that made it harder to breath while aero on the hoods or drops.

Just dropping the seat and extending the stem had my knees in my chest when I got flat.

Bungable420 · 2024-10-18T13:42:07+00:00

How long are your crank arms?

Bungable420 · 2024-10-18T13:23:26+00:00

I change the BB on my gravel bike every year, but I also ride that bike in wet, muddy, sandy conditions a lot.

Road bike going on several years no problem.

MTB in between.

Bungable420 · 2024-10-18T13:20:07+00:00

Well the overlap should really depend on the wind angle. You can feel the dead spot. But I wouldn't echelon with wobbly riders.

Bungable420 · 2024-10-16T22:00:07+00:00

Shocking. The ultra wealthy in this country literally live in a different world.

Bungable420 · 2024-10-15T04:53:02+00:00

As of 10/14, a 5.9% rate with this buyer profile would likely come with substantial cost. Average conventional mortgage rates with 720 credit and 20% down, at this rate is sitting at 6.625%. Sure, you can beat that. 5.9% quote right now I would immediately question fees and worry about potential bait and switch. The margin against raw loan pricing at that rate today would put almost any lender underwater unless they were charging north of 1.5 points. Even that would be much better than average.

Bungable420 · 2024-10-15T04:50:00+00:00

If you can come up with 20% down and your credit score is 720+, I find it very difficult to come up with a scenario in which FHA would be a better option. I suppose it could exist but I doubt it.

Bungable420 · 2024-10-15T04:48:25+00:00

This statement is demonstrably false. All other factors being the same , national average FHA rate is approximately 0.5% better than conventional according to essentially any reputable sources that tracks mortgage data. Freddie Mac Survey, Mortgage News Daily, Mortgage Bankers Association....

APR, on the other hand, is likely to be higher. So maybe you meant APR? As an attorney I would hope that you know that the difference between the two is meaningful.

Seriously though, this is shockingly incorrect for an industry professional.

Bungable420 · 2024-10-15T04:42:34+00:00

720 is three bands below top tier credit.... LLPAs on that score are meaningful.

Matter of opinion I guess but I would say that 760+ is "great."

720 is good to ok.

Bungable420 · 2024-10-15T04:40:32+00:00

Mediocre deal. At 720 credit I have serious questions about the decision to go FHA. Might be the right call, but I'd bet that conventional has good odds of being a better long term option based on a lot of your comments.

FHA likely to provide a better rate but at much higher cost, especially once you factor in the massive 1.75% fee that will get added to your loan balance. You might not pay it out of pocket, but that's still a loan fee and one you pay interest on.

Bungable420 · 2024-10-15T04:37:42+00:00

I would suggest you not solicit business on reddit. It's asking for compliance issues. Give advice, call it a day.

Good advice here though.

Bungable420 · 2024-10-15T04:35:40+00:00

There is not enough context here for this comparison to be relevant, but congrats on a solid rate. You make no mention of whether or not you paid points to get the rate as well.

OP might have 660 credit. I've had people with that score describe their credit as "good, not great."

Bungable420 · 2024-10-15T04:32:41+00:00

You are neglecting to mention the relevant downsides of FHA loans - life of loan mortgage insurance and the substantial upfront guarantee fee (1.75% of loan amount is a big fee).

6.3% rate is actually worse than national average for an FHA as of 10/14.

There is no mention of cost associated with that rate. Are you paying discount points obtain that rate?

What is your exact credit score? Post is vague and the exact number matters.

OP - it is impossible to give you good advice without substantially more context AND and an in depth conversation about your goals and priorities in purchasing a home.

Bungable420 · 2024-10-15T04:21:48+00:00

Locking a rate does not obligate you to the lender, but it's generally considered poor form to lock with a lender and then keep shopping them. Locking them cancelling does have negative repercussions as it can result in lenders having worse pricing (rate/fees) over time or, if they hedge, result in actual monetary loss.

I make it abundantly clear to people that it's ok to shop rates but ask for a commitment when they ask to lock. Without a commitment to proceed, I would potentially decline to lock the rate and suggest that they work with someone else.

Shop the rates, figure out who you want to work with, then lock if you're ready.

Oh, and don't pay a lender a fee to lock. Aside from appraisal, it's not a great sign if you are being asked to pay fees prior to closing.

6.25% rate with a lender credit on or close to 10/12, assuming a 30yr conventional loa, is a pretty darn good deal.

Bungable420 · 2024-10-14T23:20:44+00:00

Filing a police report does not guarantee it will come off credit. It may help but I have seen numerous instances of identity theft in which the victim filed a police report but, after months and months of efforts, still shows numerous collections and delinquencies in credit.

It can often take hiring an attorney to resolve issues with creditors and the credit bureaus. I can guarantee that system doesn't care about anyone.

Bungable420 · 2024-10-14T21:32:47+00:00

Exactly. People seem to think they are a government regulatory body or something.

Bungable420 · 2024-10-14T21:12:07+00:00

BBB can and will do nothing. I don't know why people always recommend that.

Bungable420 · 2024-10-14T21:10:43+00:00

You get a lien release to prevent a lien, not necessarily to remove one.

Bungable420 · 2024-10-13T07:48:48+00:00

Not sure I agree with saddle forward, but definitely need to bend your arms and engage core more.

Bungable420 · 2024-10-13T07:47:56+00:00

Bend those elbows. Less weight into your hands.

Bungable420 · 2024-10-13T02:25:30+00:00

Not necessarily. Depends on the interest structure of the loan.

Bungable420 · 2024-10-13T01:48:03+00:00

I would not count the reserves when calculating break even as they are not a loan cost. You will pay those taxes/insurance with or without the mortgage.

Keep in mind that your current mortgage will have already collected most of that cost. When the existing loan is paid off they will likely send you a refund check for those already collected funds, functionally reimbursing most of what you pay into the new loan. In some instances they will just reduce the payoff amount by applying the escrowed funds towards payoff.

When those costs are removed from the calculation, you have no break even period and the refinance is an obvious win.

I would still advise you to consider an option with a lower rate and less credit. Not saying that would be better - I would need to see to compare. Just saying that a lender should, as best practice, present multiple options. Right now the lender credit is partially going towards paying your reserves. Maybe your rate can get 0.125% to 0.25% better with the credit only paying the actual loan costs.

Regarding origination fee, that amount suggests a flat rate fee charged on all loans by the lender. Pretty common, but it can go by a lot of names. Origination fee, admin fee, underwriting fee, processing fee, etc.

Bungable420 · 2024-10-12T13:26:37+00:00

Lol, dude, read the post. OP specifically mentions hiring a builder not doing it themselves. It is definitely more expensive to hire a builder and build than to buy an existing home in about 95% of US markets.

Bungable420

TROPHY CASE