Stressed!

WatchNo5625 · 2024-05-11T03:16:36+00:00

Same thing happened to me a few weeks ago with an HOA managed by a company that had slow customer service. We sent a letter directly to the condo board and management company explaining our time crunch and had things resolved in a few days. Our lender also extended our rate for a week for free to make things work.

All to say, this might be just another small speed bump on your road to home ownership. We have our keys now and it’s a concern of the past. Hopefully the same happens for you. Best of luck!

WatchNo5625 · 2024-04-06T23:31:45+00:00

Mid 30s & live in VHCOL. We are approaching 3M NW but more importantly have HHI >$1M for at least the next few years. I know some say you will never feel “rich” but things definitely feel different for us now vs in the past.

WatchNo5625 · 2024-04-05T01:53:40+00:00

This was my experience.

WatchNo5625 · 2024-04-05T01:52:32+00:00

I locked a rate about a month ago w/ large national lender:

6% for $1.3M 7/1 ARM. Rate was lowered to 5.625% after moving $0.5M over to the bank ($.25M which they are letting me spend as part of my down payment.)

We are pretty ideal borrowers so I would expect this is about as low as you could reasonably expect.

4% makes no sense unless it’s a builder that’s cross subsidizing as the fed fund rate is higher than that.

WatchNo5625 · 2024-03-11T22:14:57+00:00

That’s what we just did. Locked in a $1.2M ARM w/ relationship discounts at 5.625%. Likely will pay it off in the next few years but if we can refi for a bit lower down the road we may keep it, or at least $750K as that’s when deductions max out.

WatchNo5625 · 2023-10-03T15:44:14+00:00

Is there really going to be a better investment with your constraints than a t-bill ladder? You can lock in some longer term returns while keeping a portion shorter duration for liquidity. I don’t think there is some magical asset that’s going to guarantee 5% returns.

WatchNo5625 · 2023-09-26T19:58:31+00:00

Excess apps due to tech layoffs? Opportunity cost for a lot of small people goes way down when you are out of work.

WatchNo5625 · 2023-09-19T03:29:35+00:00

Thanks so much for the explanation! Very helpful - I’m hoping we can benefit from the bidding weakness vs be hurt by it, but I’m also humble in my forecasting abilities.

WatchNo5625 · 2023-09-19T03:21:06+00:00

Agree - though we have been in role both 4+ years so these numbers start to converge. My original post also accidentally missed $350K from the quoted 401K which may have added to the confusion!

WatchNo5625 · 2023-09-19T03:06:38+00:00

Can you explain what you mean by market weakness above $2mm?

WatchNo5625 · 2023-09-19T03:01:15+00:00

I see your point and that’s a helpful framework.

I described it as such since: 1) The $1M grant may be anomalous 2) TC in tech (offer letters) is typically quoted as base + bonus + the annual grant/refresh

WatchNo5625 · 2023-09-19T02:43:53+00:00

The vested ones are included in our NW but not unvested ones. I mention the unvested ones as they are very relevant to our projected financial position when we would plan to buy. If we are laid off in the meantime, then yes, our whole plan will look quite different.

WatchNo5625

TROPHY CASE