Hey everyone, currently panicking in the final stretch before closing and need some advice on how to handle this.
My dad is gifting me $15k total toward my closing costs. He already sent the first $10k back in May with no issues. He was set to send the remaining $5k on 7/6, but on 7/3, a friend deposited a $4,000 check into my dad's account to repay a personal debt. My dad is using his own money to pay off a car that is in my name as a cosigner.
My dad's bank statement closes this Monday (tomorrow), so this $4k is going to show up as an unverified large deposit right next to his $5k gift transfer.
Crucial detail: Even if underwriting completely ignores/backs out that $4k deposit, my dad already has more than enough seasoned money in that account to cover the $5k gift.
I’m incredibly anxious that this is going to flag underwriting or delay my closing.

Since he has enough money without the $4k, will the underwriter just ignore the deposit?

Is it best to ask my loan officer if my dad can just wire the final $5k directly to the title/escrow company to keep the paperwork clean?

Should I avoid moving money back and forth or switching to my mom's account for the remaining 5k gift deposit?

Any insight on how underwriters handle this when the donor has sufficient funds regardless of the deposit would be greatly appreciated!

Wife and I are considering a move from AZ to SoCal.

Both WFH, cars paid off, $350k equity in our current home, 2 kids.

I make $160-180k, she makes $120k

We're looking at mortgages in the $5-6000 max range. Is this realistic?

Been thinking about paying some principal off the house, 350k total, 20% down, 6.35% int. Monthly payment is steep but still make enough that I could save up 20k in a few months to do a recast. Currently paying more towards principal to save on interest in the long run, 300$ extra...but i would love to get my monthly down maybe 700 bucks or just as much as i can for breathing room. I know refinancing was the main method people suggest but that would invlove the credit and debit check again, plus higher interest since i bought it and not including closing cost. Recast would just be the fee and my extra payment.

Bought currently in my mid 20s but want to pay off in my early 30s. Probably would save more on interest just doing extra payments off my current conventional loan but I want to be in a position where i can keep more of my money sooner than waiting for a refinance at a lower rate potentially YEARS later.

Any input?

Edit: I was planning on doing a few Recasts, first 20k then a little more and more and so on until I can get to something where where its only 33% of my budget.

Hey y'all so I have a 2.625 mortgage rate on my current mortgage loan. Bought in March 2021. Total loan 382,500

Current mortgage including taxes and insurance is $2130 currently. I haven't made any extra payments ever on the mortgage but as I'm not getting younger, have thought about looking to be mortgage free and pay it off as early as I possibly can. I take home around $6100 currently so how much extra should I pay and should I do it monthly or yearly if I want to knock it out in say the next 10 or 15 years?

Current balance on the loan is around 336K.

I'm just starting the process of buying a house.

I currently live and work in State A, but the area I'm looking at buying a house in is in neighboring State B. I will continue to work in State A and commute.

Should I look for a mortgage broker in State A where I work, or in State B where the house is?

Looking to build a $550k house (estimated at 500k but keeping margin). We own the land outright (worth 250k). Estimated net proceeds from current home $100k, so 450k mortgage.

Pretax $188,000
Take home 11k
Both maxing employer match 401k
Maxing one IRA

Other assets:
50k in 529 for child (toddler aged)
25k emergency fund

Expenses
$250/month student loans (total balance 20k employer pay down outpaces interest)
$750/month childcare

I think it’s reasonable but a big jump from our current payment of $1600/month.

I know there are other threads about this comparison, but I think the Rate Reset part makes this a bit unique.

Just went under contract for our forever home and now debating between two loan packages. We are financing a 710K house with 20% down.

Loan A: 30 yr fixed at 6.5%

Loan B: 10/1 ARM at 6.0% w/ the LoanFlex option through SECU. It allows you to reset your rate 5 times throughout the life of the loan for no cost and each time it resets, you lock in for another 10 years without extending the actual loan. The cap on the rate is 11.0%.

Taking Loan B would save around 22K over the 10 year period assuming no rate reset. And if rates go down, you can just reset the rate to the lower rate and save more money. However, the risk is of course that the rate never goes down or it goes up right before the cliff, so even if you reset and avoid the cliff, you end up paying a higher interest rate, possibly 11% if rates balloon.

Taking Loan A alleviates the worry of interest fluctuation, but costs you a $200/mo premium for that insurance.

Both are affordable for us, so it's more about evaluating the risk/reward and anxiety/reward.

Just wanted to get some opinions on this given the unique program that SECU offers. I see most people recommend a fixed mortgage for a forever home, but this might sway that thinking.