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UTPhil2006

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Posts posted by UTPhil2006

  1. Good lord on the Flood ins.  Thank god it worked out.  Yeah might as well go ahead and get started on the refi paperwork now and get the front end of things done on it, especially with Thanksgiving week being one of those weeks leading up to closing.  That way once it's finished all we are waiting on is appraisal and once appraisal is complete and come backs good we can go to close.  

  2. 11 hours ago, Gil Bang said:

    Best day I've had in a long time.  I put 3 in escrow today.  I'm sure that at least 2 will stick. The third is 50-50.   Nice payday coming in mid-December, and we all need a good payday in December.  Typical North County deals. 600,000 range each.  I'll take it, happily. I'm feeling major momentum, and I expect to get another deal or two together.   

    Life is good. One client that fell into my lap wants to buy another, and his bank statements say he can do it easily. 

    I'm fixin' to drink a half bottle of Prosecco, fuck my girlfriend, and get up tomorrow and go meet my termite guy. 

    This has definitely been a different "slow season" than years past.  Dont know if it's the economy, rates, or hot Texas markets but it's definitely been a good time to buy right now.

  3. On 10/31/2019 at 3:29 PM, UTPhil2006 said:

    The 10 year actually came down about .05 yesterday and .10 today.  Was around 1.85 earlier this week, now at 1.69 at close today.  Might  be around a .125 bump down, but they prob wont pass that along til tomorrow.

    Ended up ramping up to around 1.95 around Monday but has since tailed off the last couple days to 1.81.

  4. 11 hours ago, LCHorn said:

    The VA rate is going to be about .50% better if he has good credit, maybe a great deal more than that if he has some dings. 
     

    The advantage of that lower rate is going to be offset some by the VA funding fee, presuming it’s applicable (10% disability rating and it’s waived).  
     

    If your buyer is at 740 or above and this is first time use of the his VA loan benefit, then the actual finance cost of the loan is likely about the same (in other words, not cheaper to go VA).  
     

    You might try selling the conventional loan, too, as better for something he will shift into rental property down the line, I.e., save the VA loan for something else, perhaps a more expensive property.  

    This is pretty accurate. I’ll be back in front of a computer tonight and can check it out for you if need be still 

  5. On 11/4/2019 at 10:20 AM, zork said:

    Not just a higher rate, you will have to pay more interest sooner on the new loan.

    Look at the amount of principal you are paying per payment now.  Then go look at the amortization table for a new loan.  The interest is front loaded.  

    People who refi after spending, lets say, 5 years paying mostly interest generally don't calculate that part in their break even analysis.  IMHO you should only refi if you can shrink your term as well as your rate.  Go from a 30 year to a 15 year is a really good deal.  Look at the amortization table to see it as you are paying so much more principal each payment.

    Or, if you really need the cash for emergency or to make an investment that would recover your new interest expenses(relative to being further along on the principal repayment schedule) then of course you do what you have to do.   7 years left on a 30 year loan is mostly principal remaining.

    plug in your original loan amount, term, and interest rate into this and see how much interest is left with only 7 years to go:

    https://www.creditkarma.com/calculators/amortization/

    Bolded for truth.  Been really popular the last year or two with rates being low.

  6. 55 minutes ago, atomheartbevo said:

    I’ve heard this rumor from multiple people, both from a neighborhood email list, and from some people from the neighborhood I was talking to after voting this morning.

    The rumor is that the Randall’s at 38th and Shoal Creek is going to be torn down and replaced by a large apartment complex.    I don’t like their prices, but i usually stopped by a few times of week to get stuff for my kid or us, and I always thought an H-E-B would just kill it there.  Even so, they always seemed busy enough.   

    That would be such an Austin thing to do - replace a neighborhood grocery with apartments.  Because, you know, we need more traffic on 38th, Exposition, North Lamar, Shoal Creek, Mopac, etc. as people have to drive a few more miles to get to a grocery store.  

    Is that lot even big enough for an apt complex?  But you are right about the traffic

  7. 1 hour ago, luke duke said:

     

    Can anyone recommend a good shared calendar app? My wife seems to think that I’m magically informed when she puts something on her iPhone calendar. I fear that if I call her a dumbass too many more times she’ll quit touching my penis. Help.

     

    Just create a shared calendar under the iphone calendar.  Title it whatever, pick a color for it, and then she can invite you (via your icloud login) and then whenever she adds something to that calendar it will get added to yours. 

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