House buying/owning advice

[Justwin]

I have a 15 yr at 2.875% right now with a lot of equity in this place and a lot of smart people are telling me to re-fi on a 30 and take ALL of the equity out and do something with it because inflation is obviously going to be around 2.875% anyway. And those are all true things that make me want to do it. THOUGHTS!?

Whatever you do, you should not be in a 15-year mortgage at 2.875%.  You can easily refinance to a new 15-year mortgage at 2.000% or to a 10-year at 1.875%.  A straight 30-year mortgage on a refinance is 2.625%.

These rates are from AIMLoan.com.  I've refinanced twice with them in the last couple years.

[yoga-like_abana]

I have a 15 yr at 2.875% right now with a lot of equity in this place and a lot of smart people are telling me to re-fi on a 30 and take ALL of the equity out and do something with it because inflation is obviously going to be around 2.875% anyway. And those are all true things that make me want to do it. THOUGHTS!?

Yes, same question. 4 years into 15 year loan with work we’ve done to this house probably have $120-140k in equity. Interest rate from 2018 loan 3.375. But am also thinking of selling this ole gal for something bigger within next year.


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[IPA4Me]

You could refi to a 30. Pay it like a 15. If crap hits the fan, you have a significantly lower payment. Always part of the consideration for me.

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[IPA4Me]

That is for that link, Justwin. Going to refi to grab some equity for 10 acres that I want for my next house.

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[catastrophe]

I have a 15 yr at 2.875% right now with a lot of equity in this place and a lot of smart people are telling me to re-fi on a 30 and take ALL of the equity out and do something with it because inflation is obviously going to be around 2.875% anyway. And those are all true things that make me want to do it. THOUGHTS!?

I am in the middle of doing exactly this. In Texas you can’t cash out more than 80% of the value, but it’s still a great way to take advantage of both built up equity and a booming market.

[nicname]

Check local and/or HOA dog and animal ordinances. Look for bans on aggressive breeds.

['taterblast]

15/2.75% here and planning to pay off within three years. is it worth refinancing?

[nicname]

Also need to refi

[steve dave]

15/2.75% here and planning to pay off within three years. is it worth refinancing?

No

[catastrophe]

15/2.75% here and planning to pay off within three years. is it worth refinancing?

No

I will say I’ve gotten two formal quotes for cash out refinancing and both times Chase sent me an overnight letter with a zero closing cost offer to refinance. So you could see about a cash out if you’re interested in the money and if not you might be able to refinance for no costs anyway.

[CNS]

Check local and/or HOA dog and animal ordinances. Look for bans on aggressive breeds.

Not sure if this is still a thing or not, but 10 years ago, I had a neighbor who told me they had a hard time getting homeowners insurance because they owned a pitbull. 

[nicname]

Check local and/or HOA dog and animal ordinances. Look for bans on aggressive breeds.

Not sure if this is still a thing or not, but 10 years ago, I had a neighbor who told me they had a hard time getting homeowners insurance because they owned a pitbull.

Yes.

[yoga-like_abana]

Had anyone ever fsbo? After using realtors three different times I honestly feel like they are useless


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[kim carnes]

Had anyone ever fsbo? After using realtors three different times I honestly feel like they are useless


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Yes, it was super easy, still paid 3% to buyers realtor. 

[yoga-like_abana]

Had anyone ever fsbo? After using realtors three different times I honestly feel like they are useless


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Yes, it was super easy, still paid 3% to buyers realtor.

Use a lawyer or did you have buyers agent send all docs?


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[steve dave]

I’m going to maybe do the cash out equity 30 year thing. I think I’ll walk away with like $250k. What do I do with that hot piece of c(ass)h?

[steve dave]

Vacation home? Invest? Mildly used lambo?

[catastrophe]

I’m doing like 95% boring stock stuff and maybe a little more crypto but probably not.

[DaBigTrain]

Vacation home? Invest? Mildly used lambo?

Bitcoin obviously

[yoga-like_abana]

Vacation home? Invest? Mildly used lambo?

Hookers and blow


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[steve dave]

Vacation home? Invest? Mildly used lambo?

Bitcoin obviously

I'm overweight ADA, BTC, and ETH already.

[DaBigTrain]

Vacation home? Invest? Mildly used lambo?

Bitcoin obviously

I'm overweight ADA, BTC, and ETH already.

Oh, well then lambo obvi

[wetwillie]

Vacation home? Invest? Mildly used lambo?

Bitcoin obviously

I'm overweight ADA, BTC, and ETH already.

You need some dvpn

[ben ji]

Check local and/or HOA dog and animal ordinances. Look for bans on aggressive breeds.

Not sure if this is still a thing or not, but 10 years ago, I had a neighbor who told me they had a hard time getting homeowners insurance because they owned a pitbull.

Yes.

I have never had any issues with GEICO or Farmers but I had a cousin who was an independent agent get me some home insurance then a year later the company sent me a letter that I couldn't renew because I had a dangerous dog

I have never listed lady's breed as a pit and have always been curious on how they knew anything about my dog.

[KST8FAN]

Vacation home? Invest? Mildly used lambo?

Bitcoin obviously

I'm overweight ADA, BTC, and ETH already.

Oh, well then lambo obvi

Lamborghini. Hahahahahaa this is super random but does anyone own a Lamborghini??  My son... birthday is in November and I was wondering if someone would be generous enough to take him for a ride around the block?.  The kid would lose his mind!  Thanks!

SD- make the kids dream on my nextdoor app come true!


Tom