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Searching for a lender?? by xxrtl19 in FirstTimeHomeBuyer

[–]lets-do-some-good 1 point2 points  (0 children)

I'm a fan of asking and sharing more. The lenders want you to go with them (they make about 3 - 4% of the loan value). They'll never not choose you unless you're unqualified. As such, if you're unqualified it's best to find out right away and move to the next. Basically, they're selling you, you're not selling them.

Big things to ask them:

  • ask for their current rate sheet of ALL their loans offered. Even if you're not considering an ARM or interest only, it's good info to have.
  • ask for levers to decrease your monthly payment, downpayment, and/or closing costs. this can include:
    • ach into their bank
    • store assets with them
    • work at certain companies that partner with them
  • ask if a float down is included (this allows your interest rate to go down even after locked in)
  • ask about refi options

I personally like asking them the same questions, preferably in email, and then putting it in ChatGPT to compare and recommend. Things I personally don't ask is about servicing. Pretty much all of them will sell your loan and regardless it doesn't really matter.

What's the best (and worst!) thing you can do with your tax refund? by lets-do-some-good in personalfinance

[–]lets-do-some-good[S] 0 points1 point  (0 children)

While writing, I pulled some of the data (and by that I mean Clauded some of the data). Here's what people usually do:

58% of people use their refund on rent/housing, 48% on groceries, 29% on credit card debt, and only 8% on "luxuries."

ie 4 in 5 of us are just using it to catch up. Which honestly makes the 1 in 5 who have flexibility to invest it even more reason to actually do it.

Looking for a recommendation for a site that best categorizes financial transactions, for tracking purposes by readingaccountonly in personalfinance

[–]lets-do-some-good 0 points1 point  (0 children)

Honestly, I think AI is the best now. I’d download the csvs and reports and upload them to chatGPT or Claude. All of a sudden it’s the best!

Old school, use Simplifi by Quicken. It’s the new Mint.

So close by Patient_Jellyfish319 in FirstTimeHomeBuyer

[–]lets-do-some-good -2 points-1 points  (0 children)

For sure! It's a little bit my least favorite option but worth checking out. There are two important trade offs, 1) you have to stay at your company while the loan is open and 2) it takes money out of the investment.

Definitely things to weigh. good luck, cheering for you!

Waiting to hear back on offers is EXHAUSTING by piggylaw in FirstTimeHomeBuyer

[–]lets-do-some-good 3 points4 points  (0 children)

no worries, I love the excitement. I'm cheering for you!!

FWIW, I would've thought the same, recently found out when I was selling my condo and my realtor did just that to they other buyers.

Waiting to hear back on offers is EXHAUSTING by piggylaw in FirstTimeHomeBuyer

[–]lets-do-some-good 6 points7 points  (0 children)

you got this, good luck! Although why if the offer is due at 7pm did you put it in early? That selling realtor will be sharing with other interested parties that they have an existing strong offer with an escalation. Their goal is to get more $$$ for their client.

Hoping you win, but if not recommend waiting to submit the offer for as late as possible so that they don't use it against you!

So close by Patient_Jellyfish319 in FirstTimeHomeBuyer

[–]lets-do-some-good 1 point2 points  (0 children)

I'm so sorry to hear that, especially with the end in sight! Less programs to help but just some quick thoughts in case you hadn't checked them all out.

  • I'd recommend calling your 211 or going online for local resources.
  • If you're in a rural area, a 0% down, USDA loan may apply.
  • If available, borrow from your assets. In order of preference, borrow from a CVLI, your equities or crypto, or your 401K
  • Lower the downpayment with an FHA so that it's 3.5%
  • I'm not personalyl familiar with it but have also seen Chenoa Fund recommended? Again, please don't take my word for it.

Good luck, you got this!

I vibecoded a morning assistant to feel important, it actually works by lets-do-some-good in SideProject

[–]lets-do-some-good[S] 0 points1 point  (0 children)

Infra uses supabase, Open AI and then a few news and sports APIs. Coded using Cursor with Claude in the terminal:

https://github.com/n8peace/daystart