[Toshi]

Refi with the 0.27 pt lender credit restored is set for closing this Friday. Notary is coming to the house. Final net closing costs will be on the order of $900. Edit: make that $232.50 net closing costs!

If you're not actively buying something, validating a past or future purchase, or selling something so you can buy another thing, what's the point in being alive?

Fannie Mae and Freddie Mac to charge 0.5 point on all refinanced mortgages they purchase from originators, effective Sept 1. And like that offered rates for nominally 0 point loans immediately jumped up 0.125-0.25% on Costco Finance.

https://finance.yahoo.com/news/fannie-freddie-impose-fee-most-023601924.html

Did some math tonight. Refi-ing yet again to a theoretical 2.375% x 0 pt (if it exists with the new Fannie/Freddie fee as above) wouldn't make much sense. I'm at the point of diminishing returns.

Also mapped out paying extra on this vs theoretical monthly costs (with no rental income counted upon!) for something like the now-pending-sale Tabernash place:

402 Gcr 514/lupine Ln, Tabernash, CO 80478 | MLS #20-526 | Zillow

For sale: $735,000. This Furnished 4-Bedroom Home, which Sleeps 12 Comfortably, is Now Priced to Sell! Deck & Spacious Patio Situated Next to Pole Creek with Mountains on the Horizon! Two Master Suites, Two Living Areas, Custom Touches Throughout & Views to Brag About! Watch 3-D Virtual Tour!

www.zillow.com

I'll hold my horses for at least a year to see how the market fares/to build up at least 10% down potentially/to ensure stability in my employer's finances, but I make no promises beyond then.

 

[Toshi]

The Land Cruiser suspension, 168k miles old and all, is starting to feel a bit loosey goosey. I think something like this (but stock bumpers and no sliders––kids and wife like the running boards) may be in order from Slee down the road:

OME Sport - 1.5" Suspension Lift'98-'07 Land Cruiser / Lexus LX 470 - Slee Off Road

NOTES: IMPORTANT: Spring rates must be selected based upon the current weight of the vehicle (stock or aftermarket armor), not in anticipation of weight. Selecting spring rates for anticipation of added weight will create driveability issues. Use tabs to step through component selections -...

sleeoffroad.com

Edit: or more prudently just new OEM shocks, or just SIUP.

 

[Toshi]

Canceling our planned trip out to Rifle with ye olde ginormous trailer and rented dually, because shit's on fire, yo

Doesn't seem like the right time to be doing this, what with I-70 closed and all.

 

[Toshi]

 

[CBJ]

Canceling our planned trip out to Rifle with ye olde ginormous trailer and rented dually, because shit's on fire, yo

Doesn't seem like the right time to be doing this, what with I-70 closed and all.

wow that is crazy looking

 

[Toshi]

wow that is crazy looking

Sun looked like the Eye of Sauron this morning, too

 

[Toshi]

Automotive oddities spotted the past few days:

- a Chevy Bolt with a kayak strapped atop it
- a 1st gen Nissan Leaf in Golden with 2 mountain bikes on the roof, 2 on a hitch rack
- a Range Rover Evoque convertible on a canyon road with its top up on a lovely sunny day

 

[SkaredShtles]

Automotive oddities spotted the past few days:

- a Chevy Bolt with a kayak strapped atop it
- a 1st gen Nissan Leaf in Golden with 2 mountain bikes on the roof, 2 on a hitch rack
- a Range Rover Evoque convertible on a canyon road with its top up on a lovely sunny day

None of those seem odd, given the location and the current air quality...

 

[canadmos]

Those things are all pretty normal in Quebec. They love their small cars there.

We shuttled in a Prius a month or two ago. Was actually not too bad.

What I find odd is that its always a VW of some sort, towing a super wide trailer. Even with mirror extensions, there is no way that person can see behind their vehicle. Double wide snowmobile trailers being pulled by a Jetta comes to mind.

And googling this, it seems like a common thing.

wtf?

 

[Toshi]

Kitteh babushkas

 

[Westy]

Those things are all pretty normal in Quebec. They love their small cars there.

We shuttled in a Prius a month or two ago. Was actually not too bad.

What I find odd is that its always a VW of some sort, towing a super wide trailer. Even with mirror extensions, there is no way that person can see behind their vehicle. Double wide snowmobile trailers being pulled by a Jetta comes to mind.

And googling this, it seems like a common thing.

wtf?

Meanwhile in America people buy 3 row SUVs when they have a baby.

 

[Toshi]

Meanwhile in America people buy 3 row SUVs when they have a baby.

To be fair, almost all of the market these days is of unibody CUVs with 2.0-3.5 liter engines, regardless of whether they crammed a third row in there or not. 20+ mpg is a lot better than, say the 15.5 mpg I get (in my not-driven-a-ton Land Cruiser).

 

[Full Trucker]

Did some math tonight. Refi-ing yet again to a theoretical 2.375% x 0 pt (if it exists with the new Fannie/Freddie fee as above) wouldn't make much sense. I'm at the point of diminishing returns.

Also mapped out paying extra on this vs theoretical monthly costs (with no rental income counted upon!) for something like the now-pending-sale Tabernash place:

402 Gcr 514/lupine Ln, Tabernash, CO 80478 | MLS #20-526 | Zillow

For sale: $735,000. This Furnished 4-Bedroom Home, which Sleeps 12 Comfortably, is Now Priced to Sell! Deck & Spacious Patio Situated Next to Pole Creek with Mountains on the Horizon! Two Master Suites, Two Living Areas, Custom Touches Throughout & Views to Brag About! Watch 3-D Virtual Tour!

www.zillow.com

I'll hold my horses for at least a year to see how the market fares/to build up at least 10% down potentially/to ensure stability in my employer's finances, but I make no promises beyond then.

So... how do y'all decide if re-financing is "worth it" or not? Things I'm looking at right now:

1. Got a broker who gave me a rate of 2.875% -- though I am unsure of points and other whatnot. I know closing costs are just under $1500 all in.
2. This would be a cash out refi of ~55% LTV, and would basically put enough cash in my pocket to pay off the balance on my HELOC, which we used to buy the Sprinter.
3. My current rate is 4.25% (ish) and I have a tiny (by Colorado standards) mortgage balance of ~$150k so my P&I is like $910/mo, and would drop to ~$680/mo.
4. So that saves me like $130/mo on the mortgage, and with ~$1500 of closing costs I'll "break even" and actually start saving money in a little over a year.
5. That's a simplified view of it, since I am rolling the HELOC balance into the thing which means I'm now paying 2.875% instead of 6.25% interest on that money (which we all now know is $16k thanks Evan).
6. We're looking to move to Salida in the medium term... we get married next September so it won't likely be before then. But we're hoping no longer than 3 years, maybe as soon as 1-1/2 years... meaning we'd JUST be breaking even on the closing costs investment.
7. We will more than likely sell the townhouse in Golden to fund the house in Salida. Unless we can REALLY cash-flow the townhouse as a rental, but even then I don't know that I wanna be a slum lord. Especially from 2+ hours away... seems like a headache I don't want to deal with. Also, we really like having a reasonable AF mortgage payment, I do not care to be house poor at all. Lower cost of living == greater quality of life IMNSHO.

So... worth it? Not worth it? How to decide?

 

[Full Trucker]

So... worth it? Not worth it? How to decide?

FWIW I am leaning towards "worth it" just to save a few bucks, lock in a long-term better rate in case something happens and we DON'T get to move to Salida (or keep the place here), and free up the HELOC for emergencies instead of having it tied up in a Sprinter payment.

 

[Toshi]

So... worth it? Not worth it? How to decide?

Mortgage Refinance Calculator: Should I Refinance? - NerdWallet

Interested in refinancing to a lower rate or lower monthly payment? With NerdWallet's free refinance calculator, you can calculate your new monthly payment and estimate your monthly and lifetime savings.

www.nerdwallet.com

this is helpful. Make sure to click on "new mortgage details" and update the closing costs.

For you with the nearish term move I'd suggest not doing it... except for the bit about the paying off the Sprinter @ 6.25%. I'd do it if it's 0 points. Did you check Costcofinance.com for lower closing costs potentially? My closing costs were $232.50 this last time around. Ask specifically (once you check the "give me more info" box on a given quote) about waiving appraisal.

 

[Full Trucker]

Mortgage Refinance Calculator: Should I Refinance? - NerdWallet

Interested in refinancing to a lower rate or lower monthly payment? With NerdWallet's free refinance calculator, you can calculate your new monthly payment and estimate your monthly and lifetime savings.

www.nerdwallet.com

this is helpful. Make sure to click on "new mortgage details" and update the closing costs.

For you with the nearish term move I'd suggest not doing it... except for the bit about the paying off the Sprinter @ 6.25%. I'd do it if it's 0 points. Did you check Costcofinance.com for lower closing costs potentially? My closing costs were $232.50 this last time around. Ask specifically (once you check the "give me more info" box on a given quote) about waiving appraisal.

Cool I'll check that out. Interesting that you wouldn't do it, but given the nearish term move that's my hesitation as well. But getting that HELOC paid down would be pretty clutch...

Closing costs with the guy I'm dealing with now are $739 + $715 appraisal... I wonder if we can get the appraisal waived?

EDIT: this says to go for it, based on wanting to reduce my monthly payment...

 

[Toshi]

Yeah, doesn't hurt to ask re appraisal. At 55% LTV that should be a no brainer to waive it.

 

[Full Trucker]

Yeah, doesn't hurt to ask re appraisal. At 55% LTV that should be a no brainer to waive it.

I asked, and basically homeboy said if the waiver was offered there would still be a .25% of the loan amount waiver fee. So I'd save $300 +/- a few bucks vs. the $715 appraisal fee... and I wouldn't have an appraisal.

 

[SkaredShtles]

I asked, and basically homeboy said if the waiver was offered there would still be a .25% of the loan amount waiver fee. So I'd save $300 +/- a few bucks vs. the $715 appraisal fee... and I wouldn't have an appraisal.

Dafuq is that horseshit?

 

[Toshi]

Did some math tonight. Refi-ing yet again to a theoretical 2.375% x 0 pt (if it exists with the new Fannie/Freddie fee as above) wouldn't make much sense. I'm at the point of diminishing returns.

I was all mentally good with this, but then my just-refinanced-away-from-them prior mortgage servicer emailed me today, dangling 2.25% rates.

So I put in my contact info and will sit through their spiel. 2.25% from 2.625% would save $16k interest over 10 years, $18k at 15 years if ridden out. I will pull the trigger yet again if their net closing costs are under $1k.

 

[Toshi]

@6thElement

I'll let you all know if this fabled 2.25% from PennyMac appears. But this is the first time I've seen 2.375% on the Costco Finance results, iirc.

Related to this is that the Fannie/Freddie 0.5% refi fee has been delayed until Dec 1.

 

[SkaredShtles]

Thinking I'm gonna refinance and use the proceeds to go on an epic bender.

 

[Toshi]

I took the risk of another credit pull and applied formally with PennyMac. Their initial offer:

- 2.25% fixed x 15 years
- 0 points
- $2,500 lender credit to me to cover closing costs and probably then some
- likely waived appraisal

Hell yes, I will take that deal!

 

[6thElement]

I took the risk of another credit pull and applied formally with PennyMac. Their initial offer:

- 2.25% fixed x 15 years
- 0 points
- $2,500 lender credit to me to cover closing costs and probably then some
- likely waived appraisal

Hell yes, I will take that deal!

What did you "apply" through for that deal, Costcofinance site?

edit: pennymac website tells me, "We don't have any products that match your selections." When I fill in my numbers.

 

[Toshi]

They only want people bigly indebted to the banks, I guess

 

[Toshi]

Final, accepted PennyMac terms:

- 2.25% with $3,6xx lender credit
- 2.125% (!!) with $786 lender credit

I took option 2. Appraisal was waived as expected. Amazing.

 

[Toshi]

 

[Toshi]

My baby has a tremendous amount of hair. True story

 

[SkaredShtles]

Seahawks?

 

[Toshi]

I saw a F-150 like Shared Skittles’ today: SuperCab “long” (6.5’) bed. It had stock wheels and a weird tonneau cover with a little spoiler lip. It was white and a Lariat so I didn’t bother to check for him at the wheel.

That is one super goofy proportioned automobile, I tell ya.

 

[SkaredShtles]

I saw a F-150 like Shared Skittles’ today: SuperCab “long” (6.5’) bed. It had stock wheels and a weird tonneau cover with a little spoiler lip. It was white and a Lariat so I didn’t bother to check for him at the wheel.

That is one super goofy proportioned automobile, I tell ya.

Sure is...

 

[6thElement]

Sure is...

View attachment 149146

Warren Gulch?

/wonders if that's "open" again...

 

[SkaredShtles]

Warren Gulch?

/wonders if that's "open" again...

Good eye. I don't think that it has re-opened yet. I *thought* it was slated for a re-route this summer, but probably got COVID'ed.

 

[Nick]

Several new lines up there, big boy pants lines. You didn't hear it from me.

 

[SkaredShtles]

Several new lines up there, big boy pants lines. You didn't hear it from me.

Sooo... they finished the lower re-route?

 

[6thElement]

Final, accepted PennyMac terms:

- 2.25% with $3,6xx lender credit
- 2.125% (!!) with $786 lender credit

I took option 2. Appraisal was waived as expected. Amazing.

I had a 2.25% rate, $0 upfront on bankrate earlier, then I spent some time doing sums, it refreshed and it's back up to showing higher rates with monies required up front...

 

[Toshi]

I am a 5 year old boy at heart.

Today’s thought from my inner kid is that Class 4, 5, and the occasional 6 work trucks with 19.5” wheels are underappreciated by the general public.

That is all.

Attn @dan-o

 

[Toshi]

I had a 2.25% rate, $0 upfront on bankrate earlier, then I spent some time doing sums, it refreshed and it's back up to showing higher rates with monies required up front...

My fees were higher with bankrate, fwiw. Although I did get a random/unexpected $500 prepaid visa from them for closing through one of their vendors.

have Costco Finance save your info and just reload that every hour! Rates are super volatile.

 

[Toshi]

[copypasta from my NASIOC thread]

For an active CO person with 3 kids, not many miles to drive per day, and a Tahara plant fetish my Land Cruiser is actually pretty optimal for me, I would reckon:

- new enough for good emissions controls (save unregulated CO2/mileage, of course), side airbags, stability control, and backup camera
- old and reliable enough to be on the very shallow end of the depreciation curve, and resultingly cheap to insure as well
- can go anywhere a four door vehicle can be expected to go on ATs in non-winter and Nokians in snow season
- fits ok in my home and work garages at 192” length
- 2” hitch, tailgate, roof rails, easy to clean leather for dirty days and biking/skiing
- (aftermarket) USB audio in, which is really all one needs
- non-ostentatious badge on the front and inoffensive “I’m a giant Highlander!” looks
- big enough to fit four adults and three kids still in bulky seats (minivan can’t actually handle this with its captains chair layout!)
- should be just fine towing a rented 3,500 lb unladen weight trailer next season with its trailer brake controller and nominal 6,500 lb tow rating

 

[Toshi]

@rideit

Bollinger DELIVER-E. Class 2B-5 GWVRs. Packs up to 210 kWh. 18” load floor via FWD like that horrible Fiat Ducato.

In a future year with ubiquitous DC fast charging that’d be a cool Class B or C RV platform! I dig the 19.5” wheels and smaller front track (likely for aero) on this rendering.