Investing General Discussion

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Locnar

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Between that, the 401k, and the standard deduction, many won't have to pay any income tax at all. I like it.
 

sleevedraw

Revolver Ocelot
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Even if you're healthy after the age of 65, you can already use HSA money to pay for your Medicare Part B, C, and D premiums tax-free. Just not Medigap policies.

They're great; I honestly believe that for most people, they should be prioritized immediately after 401k match money and before IRAs.
 
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Locnar

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Even if you're healthy after the age of 65, you can already use HSA money to pay for your Medicare Part B, C, and D premiums tax-free. Just not Medigap policies.

They're great; I honestly believe that for most people, they should be prioritized immediately after 401k match money and before IRAs.

I agree except for one thing. A lot of companies put seed money into them and a lot of it is tied to things like going to get a check up or teeth cleaning or what not. In that case you got to make sure you get all the company contributions first before you max the HSA, because they both count towards the same ultimate maximum. In that way it does not operate like a 401k (where the company can put money into it for you above your own 19.5k contribution).
 

fris

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How negotiable is an interest rate?

Im looking to refinance my home. When I got a divorce in 2018, went through a guy were used previously because he could do it fast. I should have shopped around cause I got 4.875%

I've been in the home 10 years and the outstanding balance is about 50% of the home appraisal.

Im seeing mid 3s, and debating a 20 year or 15 depending on the rate.

Given my credit rate (768 per credit karma), can I hope to negotiate down a rate (not buy down) than what banks address advertising?
 

Sanrith Descartes

Veteran of a thousand threadban wars
<Aristocrat╭ರ_•́>
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How negotiable is an interest rate?

Im looking to refinance my home. When I got a divorce in 2018, went through a guy were used previously because he could do it fast. I should have shopped around cause I got 4.875%

I've been in the home 10 years and the outstanding balance is about 50% of the home appraisal.

Im seeing mid 3s, and debating a 20 year or 15 depending on the rate.

Given my credit rate (768 per credit karma), can I hope to negotiate down a rate (not buy down) than what banks address advertising?
Shopping around is your friend. All rates are not created equally.
 

Khane

Got something right about marriage
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I don't think there is much wiggle room on the rates for most banks. Shop around anyway but like wormie said I've never really heard of rate negotiation being possible. Unless maybe you're spending millions of dollars and it's a very out of the ordinary transaction.

In general, the shorter the term the better your rate will be though.
 

Blazin

Creative Title
<Nazi Janitors>
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The people you are dealing with are just going to sell your loan the moment its settled. They don't even set the rate. They may have a tiny fraction of wiggle room as part of how they make their living. They do have the ability to increase your rate (make more for themselves) if they think they can get away with it, if that's what is happening shopping around fixes the problem. This is rare though most brokers just want to book as many loans as possible and make their money from the volume. People with bad credit are the ones who have to be more careful as rates become more ambiguous and it becomes more possible they are taking advantage.
 
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alavaz

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I've never gone through a broker. I've financed all 3 of the homes I've owned through a credit union and they've never sold the loan. I can't say whether the interest rates were any better/worse, but they always seemed in line with the market at the time.
 

Cad

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I've never gone through a broker. I've financed all 3 of the homes I've owned through a credit union and they've never sold the loan. I can't say whether the interest rates were any better/worse, but they always seemed in line with the market at the time.

How do you know they didn't sell the loan? Did you check in MERS?
 

sleevedraw

Revolver Ocelot
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I intend to shop around. But say I ask WF, and they quote me these numbers: Mortgage Calculator with Rates and Payments | Wells Fargo

Can I hope for an even lower rate or should I just look up rates for each institution?

Most banks won't negotiate rate, but most banks will negotiate closing costs, especially if you go to a big bank with a couple offers from competing online vendors or credit unions in hand and/or you are a high-balance customer with the bank.

BofA tends to have pretty high closing fees, but they will lower them aggressively if you have another offer in hand.
 

Unidin

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How do you know they didn't sell the loan? Did you check in MERS?

What he probably meant to say is they didn't sell the servicing. Because that's all you interact with on your loan. Or it's a really large or unusual loan that somehow got portfolioed but that seems really odd for a credit union.
 

Cad

<Bronze Donator>
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What he probably meant to say is they didn't sell the servicing. Because that's all you interact with on your loan. Or it's a really large or unusual loan that somehow got portfolioed but that seems really odd for a credit union.

Obviously *I* know what that means. Who gives a shit if the underlying loan is sold? Honestly who cares if the servicing is sold either? Oh wow some other name appears on my ACH debit. Who gives a shit.

My point is I seriously doubt he has any idea whether his loan was sold and you can't easily access MERS to even know, often the banks don't even know who owns a particular loan. (Source: have sued many banks.) . On top of that, it makes literally no difference whether your loan is sold or not.
 

alavaz

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How do you know they didn't sell the loan? Did you check in MERS?

I don't know what MERS is.... If you are trying to illustrate some naivety on my part about what "selling" loans means, then you got me! What I mean though is that, unlike friends who receive a letter informing them about their new lender and servicer (often different), I never received such letters and only ever payed the Credit Union.
 
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alavaz

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Obviously *I* know what that means. Who gives a shit if the underlying loan is sold? Honestly who cares if the servicing is sold either? Oh wow some other name appears on my ACH debit. Who gives a shit.

My point is I seriously doubt he has any idea whether his loan was sold and you can't easily access MERS to even know, often the banks don't even know who owns a particular loan. (Source: have sued many banks.) . On top of that, it makes literally no difference whether your loan is sold or not.
Lol you're a funny guy. At what point did anyone ever say, imply, or give the vaguest impression that they gave a shit about any of it? Was that a finance lawyer flex? Cause you can toss that into the "who gives a shit," bucket too.
 
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Cad

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Lol you're a funny guy. At what point did anyone ever say, imply, or give the vaguest impression that they gave a shit about any of it? Was that a finance lawyer flex? Cause you can toss that into the "who gives a shit," bucket too.

Not really man, and honestly no insult intended. I was probably a little snippy in my criticism. I was just wondering why you threw that in that the loan was sold or not sold. If you acknowledge it's an irrelevant detail, it's like saying yea and the guy at my credit union has pleated pants. Okay?
 
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alavaz

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Not really man, and honestly no insult intended. I was probably a little snippy in my criticism. I was just wondering why you threw that in that the loan was sold or not sold. If you acknowledge it's an irrelevant detail, it's like saying yea and the guy at my credit union has pleated pants. Okay?
Did you read the post directly above mine? Dude said they were going to sell it right away. I just mentioned that I did not use a broker nor was my loan "sold" (insofar as I understand it). The main point I was making was to shop loans at credit unions as well.