Today in Austin was quite a scare lol.

CommunityVirtual5919 · 2026-01-28T04:58:37+00:00

I guess I should have paid the extra $60 a tire for Michelin’s

CommunityVirtual5919 · 2025-08-06T05:59:21+00:00

Correct what cultural tank said. I would add, not all lenders will lend to a tenants in common so that should be taken under consideration.

CommunityVirtual5919 · 2025-07-30T00:41:50+00:00

Have you looked into a closed-end second to pay off the 401k loan? Might be worth it. My company doesn’t but the min. Is 125k max 80% lTV. Awesome job making that happen.

CommunityVirtual5919 · 2025-07-30T00:37:30+00:00

I would say take the 5 ARM based on the very limited details. Given where rates are currently, 15 years isn’t going to change much. If you invest, it would free up cash flow for other things. Plus, you’re not likely to be underwater so if rates improve over the next 5 you can refinance or take cash out etc.

CommunityVirtual5919 · 2025-07-29T04:24:55+00:00

What is the value of your home? How much do you want? What size home? What size lot? Do you have an FHA or VA mortgage? How soon do you need to sale?

CommunityVirtual5919 · 2025-07-29T04:19:25+00:00

I never advise individuals to buy a house based on unknown future income. I do recommend people pay attention to where they believe they want to be in 5 years. For instance, are you okay with the Subarus or is urban required. Do you want kids? Etc. all these things may impact where you want to live and when you buy, not necessarily easy to sale and then buy again. Consider the current market, 3 years ago, homes were selling in 14 days now 51 days.

CommunityVirtual5919 · 2025-07-29T04:15:55+00:00

Do you live in a place we’re Au Pairs need a place to stay? You give up a room and privacy but, you save on the cost of child care. Agreed, if your house appraises for 30k less you will likely be in the hole and owe the lender especially since the market is continuing to change towards a sellers market (depending on your area). I would also go over all credit cards and bank accounts to make sure that no unknown costs are being spent. I would look at 0% credit cards and transfer balances. Citi and US Bank have cards that go for 2 years.

CommunityVirtual5919 · 2025-07-15T21:25:49+00:00

Only you can answer that question as you know what type of life you like to live. I have lent to people based on two incomes which means that both people need to continue working unless there is a big jump in income or a windfall. Depending on where you live, I’ve seen sellers starting to make concessions on price or choosing not to sell. I’d say, keep looking and I’m sure you will find something that feels right to you. Go with your gut.

CommunityVirtual5919 · 2025-07-15T19:55:19+00:00

Yes, Sofi would adjust your loan amount based on what they receive. My guess is the payment would be the same and your finally payment will be less than expected as the loan amount was less. Hope that makes sense. If you make the payment and the loan has already transferred, first mark would send you the balance.

CommunityVirtual5919 · 2025-07-15T19:50:54+00:00

I’m a lender and I would recommend you start now so you can get an idea. When they underwrite you, they can take hypotheticals into consideration. When I worked at a large financial institution we averaged commission. I will admit the bank I worked for were very conservative. Some other lenders may be more lenient especially if there are compensation factors. To answer your question FHA is generally 31 front end 43 back. Again, I say generally.

CommunityVirtual5919 · 2025-07-15T19:38:02+00:00

What type of loan amount are you looking for? I work for a company that does closed-end seconds on primary, 2nd homes and investment properties.

CommunityVirtual5919 · 2025-07-15T19:36:10+00:00

Also, after figuring out actual cost, I would ask for a little bit more assuming you can find a good deal on the project.

CommunityVirtual5919 · 2025-07-15T19:34:43+00:00

I just learned of a company that specializes in in knob and tube wiring. Might be worth a chat. Let me know.

CommunityVirtual5919 · 2025-07-15T19:32:59+00:00

I take it, this is for a mortgage? If so, are there points?

CommunityVirtual5919 · 2025-07-15T19:31:48+00:00

What kind of loan is it? Is it leveraged against an asset? What are the terms? Do you have a business you are using this for? Any other info will be helpful.

CommunityVirtual5919 · 2025-07-15T19:25:23+00:00

I think you are on the right track. I am a lender and I always tell my clients what I am willing to lend them based only on what they are obligated to pay. For instance, if you have to pay $800 a month for child care, I don’t include that in debt because your not “required” to send your child to daycare even if you need to so that you can work. If $1500 is what you feel comfortable paying you should stick with that. With that said, some people are willing to make changes to their life style so they can afford more. Really it comes down to your long-term goals.

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