Issue #13: July 2025

Congratulations to this month's sponsored giveaway winners:
Tae K., George H., Jae L., and Harry O.

Life

TTB Update

It’s been just over a year since I joined TTB (The Tuesday Bros) — a group of dads who meet at 5:00 AM at least twice a week to lift heavy things and hold each other accountable. We focus on the classic SBD lifts: squat, bench press, and deadlift.

If the sum of your squat, bench, and deadlift exceeds 1,000 lbs, you join the elite 1,000 Pound Club.

I started in June 2024 with:

Squat: 225
Bench: 195
Deadlift: 275
Total: 695 lbs

As of July 2025, my new PRs are:

Squat: 407
Bench: 255
Deadlift: 480
Total: 1,142 lbs

Beyond the numbers, I’ve really come to value the camaraderie, the shared suffering, and the cult-like accountability. Waking up at 4:15 AM is still tough, but our “late fees” and “no-show penalties” make it a little easier to stay committed. The TTB fund covers celebrations, BBQs, and birthday events — making the group feel more like a brotherhood than just a workout crew.

Big thanks to our coaches for pushing us (safely) beyond our limits. It’s amazing to scroll through the TTB spreadsheet and see how much everyone has improved since joining. Proud to be part of this crew.

Personal Finance

3 Money Habits That Changed My Life in My 30s

I’ll be turning 40 in a few months, and I asked ChatGPT for writing prompts. This one stood out — a chance to reflect on the financial habits that truly shaped my 30s.

1. Automating Things
Time moves fast in your 30s, and small habits compound in a big way. Automating investments into retirement accounts, 529s, and savings took the mental effort out of staying consistent. Over time, those contributions started to snowball — and I barely noticed the money missing.

2. Setting a Goal and Tracking Net Worth
When I launched my LiveFrugaLee blog in February 2016, I set a goal of reaching a $1M net worth by age 35. I hit it in April 2021, after 62 months of tracking and monthly blog posts. Measuring my progress kept me focused and motivated, especially during seasons when it felt like nothing was happening.

3. Staying Out of Debt
I got into personal finance back in 2007, thanks to Dave Ramsey, while I was living in Kansas. I drank the Kool-Aid early — paying off student loans and a car — and eventually discovered the FIRE movement. That mindset shift made a huge difference: I wanted interest to work for me, not against me. Staying out of consumer debt gave me the freedom to save, invest, and make big moves when the time was right.

As I head into my 40s, I’ll carry these habits with me — but I’m also starting to strategically leverage low-interest debt, like assumable mortgages, to grow our real estate portfolio. It’s a new chapter, but the foundation is the same.

If you have any personal finance questions or a suggestion for a future topic, please submit them to mrfrugalee@gmail.com.

Real Estate

20 Things You Should Know About Assumable Loans

With mortgage rates still elevated, assumable loans are getting a lot of buzz—and for good reason. They can offer significant savings for buyers and a unique marketing edge for sellers.

Here are 20 things to know before you jump in:

Only Certain Loans Are Assumable
Primarily FHA, VA, and USDA loans are assumable. Most conventional loans are not, unless the loan terms specifically say otherwise. I was able to assume a VA loan as an investor last year.
You Can Inherit a Low Interest Rate
If a seller has a 2.5% interest rate from 2021, a buyer can assume that low rate—potentially saving hundreds per month. I got a 2.375% rate on my rental property.
Buyers Must Qualify with the Servicer
You can’t just “take over” a loan. Buyers must go through the lender’s qualification process, just like any mortgage.
A Large Down Payment May Be Required
You must cover the difference between the remaining loan balance and the sale price—often with cash or creative financing. It's not unusual to have to come with $100k-$200k or even more to cover the gap.
It’s a Great Option in High-Rate Markets
Assumable loans offer rare access to below-market mortgage rates, which can significantly improve a buyer’s affordability.
Sellers Can Use It as a Marketing Tool
“Assumable 2.75% VA Loan” in a listing can attract attention, increase showings, and drive stronger offers.
The Lender Must Approve the Assumption
Even if the loan is assumable, lender approval is still required—and the process can take several months.
Closing Costs Are Often Lower
Because you’re not originating a brand-new loan, closing costs (especially lender fees) are typically lower. The VA Funding Fee for assumptions is 0.5%.
Assumption Timelines Can Be Longer
Some lenders can drag their feet—expect 45–60+ days for assumption approval in many cases. I'm currently approaching 4 months on one transaction.
VA Loans Can Be Assumed by Non-Veterans
However, unless the buyer is also VA-eligible, the seller’s entitlement remains tied up. Most listings require the buyer to be a veteran. I would say about 1-2% allow a non-veteran / investor to assume.
Sellers Need a Full Liability Release
Make sure the lender releases the seller from any future responsibility—otherwise, the seller could be liable if the buyer defaults.
A Second Mortgage Might Bridge the Gap
If a buyer doesn’t have enough cash, they may take out a second loan to cover the equity difference—though not all lenders allow this.
Assumptions Can Be More Work for Agents
These deals require coordination with the loan servicer, extra paperwork, and longer timelines. Agents must stay on top of it. There are third party expediters that charge a small fee to help move things along.
No New Appraisal Is Required (Usually)
Most loan assumptions do not require a new appraisal, saving buyers time and money—though a lender could still ask for one.
Loan Terms Stay the Same
Buyers assume not only the rate, but also the remaining term, balance, and monthly payment structure. For example, the mortgage will still be amortized over 30 years, but you may only have 27 years of payments remaining once you assume the loan.
There May Be an Assumption Fee
Lenders often charge a small administrative fee (usually a few hundred dollars), plus potential legal or title fees.
Buyers Can Still Negotiate Repairs and Price
Just like any other sale, you can still negotiate on the contract price, contingencies, inspections, etc.
Not All Loan Servicers Are Easy to Work With
Some servicers are slow, disorganized, or unfamiliar with the assumption process. Expect delays and advocate hard. Again, it might be worth it to use an expediter. I'm using one now, and so far my experience has been good.
You Can’t Assume if the Loan is Delinquent
The mortgage must be in good standing—you cannot assume a loan that’s in default or behind on payments.
They’re Underutilized—For Now
Despite the benefits, many buyers and sellers overlook assumable loans. But as rates stay elevated, expect more people to ask about them.

Final Thoughts: Assumable loans aren’t always easy, but they can be worth the effort. If you’re a buyer looking to save—or a seller looking to stand out—an assumable loan might be your edge in today’s market.

Have questions about assumable loans? Reach out—I’m happy to help you navigate the process. I've closed 3 assumable loan transactions and currently have 2 more under contract. I have a Facebook group (Northern Virginia Real Estate Deals) and a Messenger chat room (DMV Assumables) where I share deals as I find them.

If you have any real estate questions, reach out to me at RealtorDannyLee@gmail.com.
Follow me on Instagram @RealtorDannyLee

Travel

How I Use Credit Cards to Help Pay for Travel (as a Family of 5)

Here’s a quick rundown of how I use credit cards to help subsidize the cost of traveling with our family of five — without going into debt or chasing every single offer.

The Cards I Use:

Chase Sapphire Preferred – $95 annual fee
Chase Ink Business Unlimited – No annual fee
World of Hyatt Credit Card – $95 annual fee
Marriott Bonvoy Boundless – $95 annual fee

Chase Sapphire Preferred

This is my go-to for general expenses. I earn Ultimate Rewards points, which I mostly transfer to Hyatt (and occasionally Southwest) for maximum value.

Chase Ink Business Unlimited

I use this card for business expenses. As I earn points, I regularly transfer them to my Sapphire Preferred account, which allows me to redeem them through Chase’s travel partners — especially Hyatt.

Hyatt & Marriott

I keep both the Hyatt and Marriott cards mainly for the free night certificates they offer each year — easily worth the $95 annual fee.

We stay mostly at Hyatt, but Marriott is a good backup when there’s no Hyatt nearby.

The Hyatt card also gives me Discoverist status, which comes with perks like free bottled water, late checkout, and occasional room upgrades.

Why I Prefer Hyatt

Hyatt has the best point redemptions, hands down. You often need fewer Hyatt points than Marriott points to get a comparable room.

Pro tip: If you're using your Free Night Awards, book well in advance to ensure availability. You can cancel if you need to usually up to 72 hours before your arrival date.

If you're interested in booking travel with me, reach out to me at DannyL@fairygodmothertravel.com.
Follow me on Instagram @Danny_FairyGodmotherTravel.