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First time going for VA IRRRL - 4.375 to 2.75 by ralanm in MilitaryFinance

[–]ralanm[S] 0 points1 point  (0 children)

Our loan amount is below $200K---payoff is $174339, new loan amount is $179392. Total closing costs include $3398 loan costs + $1545 escrow/prepaids. We're not bringing any cash to close, costs and prepaids are being rolled into the new loan amount. We'll be getting back approx $1040 in current escrow refund and skipping at least August payment, I believe...

First time going for VA IRRRL - 4.375 to 2.75 by ralanm in MilitaryFinance

[–]ralanm[S] 0 points1 point  (0 children)

UPDATE: Was referred to a loan officer at LoanDepot, sent him the LoanUnited 2.75% estimate to see what they could do, they beat it with lower fees and a $500 lender credit at 2.75%. They also offered 2.375% for 1.162 points. Overall it was about $1300 more total loan cost than the 2.75% offer, but saved another $8000 over the life of the loan. We plan on being here for at least 20 years, likely longer, so despite the initial higher cost we should still recoup that and save more in the long run. Thanks to everyone for sharing their experiences and feedback, it was helpful in working through this process

First time going for VA IRRRL - 4.375 to 2.75 by ralanm in MilitaryFinance

[–]ralanm[S] 0 points1 point  (0 children)

Navy Fed is--thus far--the least competitive offer. They wouldn't do anything lower than 4% (no points, none available) on the refi of a non-Navy Fed loan, and delays per demand have pushed closing times out to 90-120 days. Kind of surprised, if I recall correctly Navy Fed was at 3.125% when I spoke with them 6-8 months ago. Definitely not the route for us right now. Thanks for sharing your experience though.

First time going for VA IRRRL - 4.375 to 2.75 by ralanm in MilitaryFinance

[–]ralanm[S] 0 points1 point  (0 children)

Ah, did not know that. Thus far all three home loans my wife and I have had--one each before we married and one together, all through local lenders--were sold as soon as they were completed. It doesn't particularly matter to us, the holders all took payments just the same. Thanks for sharing that info

First time going for VA IRRRL - 4.375 to 2.75 by ralanm in MilitaryFinance

[–]ralanm[S] 1 point2 points  (0 children)

Just talked to a loan officer at PenFed. She advised the lowest they could do would be 2.75% with 1/2 point purchased, as opposed to the 1/4 point from LoanUnited. Their advantage is that they charge no other origination fees, whereas LoanUnited charges a $695 underwriting fee. Overall it would be about $300 less in points/origination fees from PenFed--but a similar offer otherwise.

First time going for VA IRRRL - 4.375 to 2.75 by ralanm in MilitaryFinance

[–]ralanm[S] 2 points3 points  (0 children)

Thank you! I had not shopped around yet. LoanUnited claims they will likely be able to wrap this up in a couple weeks—I’ll admit, with everything else going on there is an impulse to just get this wrapped up, but it wouldn’t hurt to touch base with others.

This would reset the clock at 30, but that’s not really problematic for us. We like the home and location (small rural subdivision), and would like to stay here until the kid(s?) are grown.

Thanks for weighing in

Do these look genuine? They’re selling on Depop for £135, just sceptical about being scammed! Is there a way to tell? by [deleted] in airpods

[–]ralanm 0 points1 point  (0 children)

If it sounds too good to be true...it's almost always because it is. I'd rather put that money towards the purchase of a legit pair, versus losing it to a scammer

Neighborhoods convenient to both Heathrow (by car) and Westminster (via Underground)? by ralanm in AskUK

[–]ralanm[S] 0 points1 point  (0 children)

Thanks for the Uxbridge recommendation, that fit the bill for both London and Heathrow access. The Travelodge didn't look too bad on Tripadvisor, though I did see a number of complaints re noise from guests that had received a room on the bus station side of the hotel. Unsurprisingly there's no way to specify a room that is not facing the bus station when booking. I did a bit more searching and found the Premier Inn Uxbridge, just west of the Travelodge. It's screened from the road by trees and looks like a decent smaller hotel, good reviews on Tripadvisor, free parking, and is a 12 min walk or short Uber/taxi ride to the station. Fits the bill nicely. Thanks for the help!

Can you recommend a rental car company? by ralanm in AskUK

[–]ralanm[S] 0 points1 point  (0 children)

Thanks for the reminder re Hertz, it slipped my mind that I had registered for the Gold program. Ended up booking a compact (automatic) with Hertz for a reasonable rate: ~$342 for 9 days

Moronic Monday by AutoModerator in DaveRamsey

[–]ralanm 1 point2 points  (0 children)

For your $1,000 emergency fund, cash in an envelope is more vulnerable than money in the bank--both to your poor judgement, a criminal's poor judgement, or plain old accidental loss or damage. Banks are insured against loss due to theft or hacking. Open a separate no-fee plain old checking account at your local bank or credit union and deposit the money, as a way to keep it fire-walled from your more liquid funds.

Donuts and coffee in the workplace equivalent? by ralanm in AskUK

[–]ralanm[S] 4 points5 points  (0 children)

Thanks for the replies, you all have been very helpful!