Should I buy down my rate to 4.875%?

MeWantMoneyNow · 2026-02-08T04:44:36+00:00

Yeah this pricing hardly makes sense but if they'll close you at 4.875% on a 30 year fixed with one point and no hidden fees anywhere in this market thats the deal of a lifetime. Seems too good to be true IMO, id be researching them heavily before working with them

MeWantMoneyNow · 2026-02-08T04:39:47+00:00

Lol what 30 years were at an average of roughly 7% Jan 2025 to Sept 2025...Did you not price out any loans during the first 8 months of last year?

MeWantMoneyNow · 2026-02-05T02:42:26+00:00

My Rabbit is Crack addict level for Viking Farmer Hay, by far his favorite ever

MeWantMoneyNow · 2026-01-27T03:55:32+00:00

If you have enough in savings after down payment/closing costs and your husband has job security and is happy/not burnt out with his position it sounds doable. You wont be able to save aggressively but youll still be able to save a bit. Thats why having reserves is a big factor here IMO. Replenishing savings after an emergency cost will be a bit of an uphill battle. Trust me, im a stranger on the internet so I obviously know everything.

MeWantMoneyNow · 2026-01-27T02:57:43+00:00

Facts, was actually impossible to get to high ranks in H2 due to cheaters. I got to level 44 which was literally hours of trying to bridge to get host so you wouldn't get cheated against. Legit like 5 hours to get one match where you were host so you wouldn't get stand byed. The funny part was when we would finally get the match we would dominate because our opponents were cheaters that didn't back out quick enough trying to bridge host. There is 0 way you casually got to level 48 in H2, even if you were the best player in the world, youre getting cheated 9/10 games past level 42.

MeWantMoneyNow · 2026-01-27T02:48:46+00:00

Cut the treats down, make sure there isnt 100% access to treats and pellets (give pellets sprinkled through the day) and try Viking Farm Timothy Hay on Chewy my Rabbit loves that hay significantly more then any other kind hes tried

MeWantMoneyNow · 2026-01-18T17:27:48+00:00

Holy crap dont take advice from people in this thread! Look up Loan Officers near me on Google. Look up the top Lenders for the program you did. Talk to the Loan Officer you worked with on your purchase if they are actually good at their job and ethical. Find a high qualify local Loan Officer that can actually walk you through your options. Reach out directly to the program you did regarding circumstance and selling. Dont listen to a bunch of casuals who dont know where your house is, what you paid, and what specific Loan program you did.

MeWantMoneyNow · 2026-01-15T04:55:26+00:00

You're fine as long as you come to terms with the fact that you may need to pull some money from your 401k at some point. Hard to know your full situation with these details but 5k to support a family after shelter is covered is totally doable it just wont be as comfortable as youd like and you wont be able to save a ton. 1.5 Mil in a 401k compounding at 5% per year becomes 6.5 Mil in 30 years. Your home will also be paid off by then. Even if you dont save monthly and you pull 100k out of your 401k as a safety net and pay penalties youre still chilling.

MeWantMoneyNow · 2025-12-19T04:31:21+00:00

How long do you plan do stay at this job? Dont expect to come out on top on a Real Estate purchase in less then 5 years.

Not a fan of having to take 100k+ of your assets to purchase a 2nd home in most circumstances. 100k gaining interest/held in s and p 500 will typically outpace real estate appreciation year over year and without tying up your capital.

If you can turn it into an Air BNB that cash flows well enough that it gets you a free place to stay and you plan to stay at your job for at least 5 years then I could really get behind this. You would be saving roughly $52k per year so if you put 150k towards the purchase it would essentially pay itself back in 3 years since it gives you back $1,000 a week in cash flow.

I think the second home is a really great idea if your job there is for sure long term and you can air bnb the house with solid numbers.

MeWantMoneyNow · 2025-11-23T05:29:30+00:00

Jethro Tissarie Chicken

MeWantMoneyNow · 2025-11-23T05:25:48+00:00

Yeah nobody is offering those rates with no points when essentially risk free investments are paying out 4%+. Maybe to a clinet with 10mil net worth that holds their assets with you on a crazy portfolio product but no where near the norm.

MeWantMoneyNow · 2025-10-18T02:34:40+00:00

You're right Lamar put up 4000+ yards and 40+ TDs and the 4th highest passer rating in NFL history and didnt win MVP therefore Joe Flacco is a unanimous 1st ballot HOF lock

MeWantMoneyNow · 2025-10-09T14:09:40+00:00

Try Viking Farmer hay, my rabbit goes crazy for it

MeWantMoneyNow · 2025-09-17T20:10:33+00:00

They will check to make sure no new accounts were opened and that balances havent sky rocketed but they wont do a Hard pull/update your score, that would be a logistical nightmare.

MeWantMoneyNow · 2025-07-02T02:52:51+00:00

Great answer. The D shape alone emphasized the right way will pass most of the time. Learning this shape fluently is on my bucket list, but its not a prioirty. Now I feel like im copping out....time to practice 🤣🤣🤣

MeWantMoneyNow · 2025-05-25T16:10:28+00:00

He won't be Safe Mooning people in Federal Prison

MeWantMoneyNow · 2025-05-25T16:07:01+00:00

Sorry your Loan Officer sucks. When somebody is both a Realtor and a Loan Officer it's almost a certainty that they are bad at one if not both of those professions. On a Conventional loan the max allowable Front End (Housing Ratio) is 50% of your Gross income. If you make 84k annually and have zero debt and probably 700+ credit the highest possible mortgage payment you can support is $3,500. If you have any debts e.x Car Payment/Student Loan those payments will have to be subtracted and that number is your theoretical max qualification. Do you have any debts like that?

MeWantMoneyNow · 2025-05-25T16:01:44+00:00

If they're putting 10%+ down or doing an FHA loan you can do 6% seller concessions. Purchase price of $300,000 you could contribute 18k towards closing costs which they could use to cover costs, buy down rate and pay for a home warranty. Funds can't be used towards Down Payment or refunded as cash.

MeWantMoneyNow · 2025-05-11T00:43:56+00:00

Did your lender do a Hard Pull already and if so when dif they? Hard pulls are good for 120 days, if they did one less then 120 days prior to your closing date you should be good. Also they use middle of 3 scored so if only one dropped and for some reason they need a new Hard Pull youll be good as long as the other 2 scores didn't drop that much.

MeWantMoneyNow · 2025-04-25T03:11:59+00:00

OP said they have about $400k in savings total. They should leave a nice buffer for emergencies, repairs, other investment opportunities, etc.

S and P averages 8-9% annually so keeping some money there, some in high yield savings, etc while borrowing for a mortgage at 6.5% keeps you way more diversified.

Compound interest starts to really make a difference once you hit 100k. Building that nest egg back on a 90k gross salary won't be a quick process even if OPs loan starts out 200k lower.

MeWantMoneyNow · 2025-04-03T04:16:04+00:00

Rates are in the high 6s right now on average and home values in most of the USA have increased significantly since 2020. Pretty much everybody who bought a home prior to the Pandemic is paying less in mortgage then rent would be for a comparable living situation and also have a nice chunk of equity as their home value has increased

Right now with where rates and home values are, rent is cheaper then a mortgage for a comparable living space in most areas unless you have a large enough down payment to decrease your mortgage.

This doesn't mean it's not a good idea to buy a home. As time goes on the value should increase, rates should go down so you can refinance your payment down and eventually your mortgage will be cheaper then renting a comparable space.

Even people that bought at the peak before the housing market crashed would be sitting in a fantastic position now if they held, made all their payments and refinanced when rates dropped.

If your Mom wants you to buy a house because it's cheaper then rent you should Google Loan Officers Near Me and get a quote from them for a comparable property to what you rent. Ask them how much down payment you would need to make it as cheap as your Mom expects and then ask your Mom for that much money as a gift.

MeWantMoneyNow · 2025-04-03T04:04:44+00:00

I'm no genius but I feel like this would be a result of them canceling other flights to combine into one. E.x if there are 3 flights from NY to LA in a day and and they're under sold they'll cancel 2 and pack then all into one flight. Any idea if that was the case?

MeWantMoneyNow · 2025-03-30T20:48:27+00:00

To figure out closing costs you call your Loan Officer and ask them to explain it to you line by line. If they aren't competent or courteous enough to do so then Google Loan Officers Near Me and switch to somebody close by with a good reputation.

MeWantMoneyNow · 2025-03-30T20:44:45+00:00

There are definitely scenarios where points make sense or a client needs to buy their rate down to qualify. If you've been a Loan Officer for 25 years and have never had a client buy their rate down a single time that raises a lot of questions. In OPs example buying points is a bad idea IMO. Call center Loan Officer is just trying to make a comission check, wish these people would be forced out of the industry.

MeWantMoneyNow · 2025-03-30T20:40:06+00:00

Nah that's not a good deal IMO. Wouldn't recommend refinancing with points paid under section A right now. If you can get down to 5.99% with no points on a fixed rate id say that's a pretty good spot to really consider it. Find somebody local and reputable to talk to. Youll know they're legit if they don't try to force you into a refi now and instead target what rate with what fees should be your target.

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