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Re: Refinance now?? [Re: FishFace] #2995752
08/12/19 10:13 PM
08/12/19 10:13 PM
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I'm not following the math here Fishface.

So say the loan amount is $260k

.85% of that is 2,210, then divided by 12 is $184.17

or am I doing it wrong and .85% is $221,000 then didided by 12 should be $18,416.67 ?

Neither one is right to me, so I might need a lil more splaining. what part did I miss?

Is it .....add .85% to the interest rate? like if the rate is 3.75% it becomes 4.6%?
if that is the case then the payment would be roughly 1k, yes?

Re: Refinance now?? [Re: Belchfire1] #2996112
08/13/19 06:55 PM
08/13/19 06:55 PM
Joined: Jan 2002
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Carlsbad, California
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Who's Your Daddy Offline
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Wow...lots of misinformation here. Good luck!


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Re: Refinance now?? [Re: Who's Your Daddy] #2996114
08/13/19 06:59 PM
08/13/19 06:59 PM
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Leucadia
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Belchfire1 Offline OP
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Who's your Daddy? Any insight you care to share?

Re: Refinance now?? [Re: Belchfire1] #2996236
08/13/19 10:20 PM
08/13/19 10:20 PM
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Sorry, no time to chime in. You get what you pay for when seeking advice on the BB....


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Re: Refinance now?? [Re: Belchfire1] #2996287
08/14/19 01:21 AM
08/14/19 01:21 AM
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Dropping PMI is a no brainer.

If anyone wants a simple spreadsheet with Amortization and PITI calcs to calculate total interest paid PM me and email and I'll send it. It'll give you the true cost of interest over the life of the loan.

I just refi'd to drop to 3.625 from 4.25%.

Re: Refinance now?? [Re: Belchfire1] #2996296
08/14/19 01:34 AM
08/14/19 01:34 AM
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Originally Posted by Belchfire1
Who's your Daddy? Any insight you care to share?

Cracks me up when posters take them time to chime in order to tell everyone they're wrong, then they are "too busy" to explain why #toocoolforschool roflmao bigdeal


You forgot it was STOLEN?!
Re: Refinance now?? [Re: Belchfire1] #2996309
08/14/19 02:34 AM
08/14/19 02:34 AM
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BORING! tomato

Are you guys fags? monkey


incompetence is preferable to malice.
Re: Refinance now?? [Re: Belchfire1] #2996313
08/14/19 02:45 AM
08/14/19 02:45 AM
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I refi'd into VA Loan at 3% a few years ago. As a DAV I don't pay fees or closing costs, which is nice....and no PMI on VA loans.


Originally Posted By: StuAzole
The deference given to veterans is insane. They signed up, did their job and got paid for it. Fine.
Re: Refinance now?? [Re: Belchfire1] #2996323
08/14/19 03:09 AM
08/14/19 03:09 AM
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I'm already in too deep to refi.

I don't want to reset the clock.

Would rather continue to just pay the thing off.

The monthly savings isn't enough to make me want to jump ship.


\_(''/)_/

Kids! Throw them to the gorillas! ~Autoprax
Re: Refinance now?? [Re: Who's Your Daddy] #2996357
08/14/19 12:25 PM
08/14/19 12:25 PM
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Originally Posted by Who's Your Daddy
Sorry, no time to chime in. You get what you pay for when seeking advice on the BB....


Op I can send you my loan person if you want. PM me.

She just emailed me about the recent rate drop.

So, I guess it would be better than erbb advice?

Re: Refinance now?? [Re: rts265] #2996426
08/14/19 03:32 PM
08/14/19 03:32 PM
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Belchfire1 Offline OP
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Everyone, thanks for the advice. I think I gots it figured out enough.

Cheers,
Belch

Re: Refinance now?? [Re: grapedrink] #2996662
08/14/19 09:16 PM
08/14/19 09:16 PM
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Carlsbad, California
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Originally Posted by grapedrink
Originally Posted by Belchfire1
Who's your Daddy? Any insight you care to share?

Cracks me up when posters take them time to chime in order to tell everyone they're wrong, then they are "too busy" to explain why #toocoolforschool roflmao bigdeal


Hardly too cool, grapedrink. Just a statement that there is misinformation on this thread and that this isn't possibly the best place for financial advice. Need an example:

JEwing stated (and I think should have known better): " The new appraisal value should eliminate the requirement for PMI. That would raise your property tax though."

This is unequivocally false in California . The property tax would not change based on refinance or appraisal activity...though it would most likely eliminate PMI (a great reason to refi).

Thanks to Proposition 13, which decreased property taxes by assessing values at their 1976 value and restricted annual increases of assessed value of real property to an inflation factor, not to exceed 2 percent per year. It also prohibited reassessment of a new base year value except in cases of (a) change in ownership, or (b) completion of new construction. These rules apply equally to all real estate, residential and commercial—whether owned by individuals or corporations.

What this means is that even if your property value increased 50% from the time of your purchase (the price at which your assessed value is set, if after 1976), your assessed value can only increase by 2% per year....regardless of any appraisal or refinance activity. The exception would be if new construction were occurring...which I don't believe to be the case with the original poster.

Sorry you think I was being a dick....some of us just don't have that much time. Now suck it!


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Re: Refinance now?? [Re: Belchfire1] #2996792
08/15/19 03:47 AM
08/15/19 03:47 AM
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Quote
some of us just don't have that much time

Sorry, I just don’t buy the whole “I don’t have enough time to explain why you are wrong, but I did have time to log in, read the whole thread, then leave a snarky know-it-all remark” schtick. It’s lame. You also found the time to explain prop 13, which is real estate 101 for anyone who has purchased a home in California, so not exactly new.
Do you have anything of actual value to contribute confused2


You forgot it was STOLEN?!
Re: Refinance now?? [Re: grapedrink] #2996960
08/15/19 04:11 PM
08/15/19 04:11 PM
Joined: Jan 2002
Posts: 13,165
Carlsbad, California
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Originally Posted by grapedrink
Quote
some of us just don't have that much time

Sorry, I just don’t buy the whole “I don’t have enough time to explain why you are wrong, but I did have time to log in, read the whole thread, then leave a snarky know-it-all remark” schtick. It’s lame. You also found the time to explain prop 13, which is real estate 101 for anyone who has purchased a home in California, so not exactly new.
Do you have anything of actual value to contribute confused2


LMFAO...this is why I rarely even think of checking the BB nowadays.

1. I had time the second day to make a longer post.

2. Yes, everyone knows about Prop 13, yest somehow advice was given contrary to it....which was my point.

3. You are a douche...seeya cupcake!


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Re: Refinance now?? [Re: Who's Your Daddy] #2997246
08/16/19 01:01 AM
08/16/19 01:01 AM
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Originally Posted by Who's Your Daddy

This is unequivocally false in California . The property tax would not change based on refinance or appraisal activity...though it would most likely eliminate PMI (a great reason to refi).

Thanks to Proposition 13, which decreased property taxes by assessing values at their 1976 value and restricted annual increases of assessed value of real property to an inflation factor, not to exceed 2 percent per year. It also prohibited reassessment of a new base year value except in cases of (a) change in ownership, or (b) completion of new construction. These rules apply equally to all real estate, residential and commercial—whether owned by individuals or corporations.

What this means is that even if your property value increased 50% from the time of your purchase (the price at which your assessed value is set, if after 1976), your assessed value can only increase by 2% per year....regardless of any appraisal or refinance activity. The exception would be if new construction were occurring...which I don't believe to be the case with the original poster.

Sorry you think I was being a dick....some of us just don't have that much time. Now suck it!


I specifically replied to Subway who lives on the east coast where prop 13 doesn't exist.


I was a little bit smarter and quicker than everyone else, so I've been able to live the way I've wanted to live - Mickey Dora
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