Comments by "Brent - Investing On The Go!" (@BrentInvesting) on "The 5 WORST Money Mistakes To Avoid In Your 20’s" video.

  1. #131 - I walk away to make a call and a new video drops lol - I'm doing a refi right now and learning that buying down the loan to a lower interest rate is not worth it, your lender fee's increase, the total interest paid only differs a little and because the higher lender fee's you get less cash to borrower - so it's best to aim for an ok rate, with the best cash to borrower ratio. I'm going with a 5.625% vs. a 5% rate because I'll get ~$3600 more cash in my hand at the time of close and only loss ~$170 cash flow over a period of a year.
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  2.  @GrahamStephan  I get a better rate using (Better Mortgage) 5.25% (1K+$500) off Closing Costs, Cash at Close ~$93,149, ~$616 Monthly Payment, Cash Flow ~$199 I work at a credit union and while we have higher rates I get discounts working here so 5.625%, Cash at Close ~$93,153.71, ~$683 Monthly Payment, Cash Flow ~$176 Over a Year Differences of $205. I know where my loan would sit doing it local as we keep all our RE loans, and can always make suggestions as far as appraisals and can walk downstairs for questions on future loans. To Lock a 5% Rate Closing Costs were ~7k, and cash at close would be ~90k which I'd rather have more cash in my hand to roll into the next deal as I'm trying to move into a 4plex next.
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  3. Also, Prob the best calculator I found for entering info and comparing lol - https://mortgagecalculatorwithpmi.com/loan-comparison-calculator/ I'd prob make some slight modifications - but it provided more then what I saw others do, I think I'm going to work on designing an app that will do what I need to do for future refi's.
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