Anonymous
07/07/2015 22:48
Subject: Re:Is it possible for me to buy this house?
Ask you parents for a down payment.
Anonymous
07/06/2015 23:35
Subject: Is it possible for me to buy this house?
Anonymous wrote:Anonymous wrote:Use a rebate realtor to buy. That's an extra 2% ($15K) in your pocket.
ie, a redfin realtor or?
Eh, you could but they lowered their rebate a lot. Glass House and iagent offer 2%.
Anonymous
07/06/2015 23:20
Subject: Is it possible for me to buy this house?
Anonymous wrote:Any chance you could wait till you're able to put down 20%, ie $150k? Cos' you're going to take a hit (every month going forward) due to mortgage insurance if you put down less than 20%.
You could accelerate your savings but limiting 401k contributions, say for 3-6 months, so that you're in a position to purchase the house, once house is bought you can make up for the lost 401k contributions later in the year.
Assuming that your HHi of 300k will hold for the next 3-5 years could swing it. Best of luck.
...meant to say that "you could swing it"
Anonymous
07/06/2015 23:18
Subject: Is it possible for me to buy this house?
Any chance you could wait till you're able to put down 20%, ie $150k? Cos' you're going to take a hit (every month going forward) due to mortgage insurance if you put down less than 20%.
You could accelerate your savings but limiting 401k contributions, say for 3-6 months, so that you're in a position to purchase the house, once house is bought you can make up for the lost 401k contributions later in the year.
Assuming that your HHi of 300k will hold for the next 3-5 years could swing it. Best of luck.
You could accelerate your savings but limiting 401k contributions, say for 3-6 months, so that you're in a position to purchase the house, once house is bought you can make up for the lost 401k contributions later in the year.
Assuming that your HHi of 300k will hold for the next 3-5 years could swing it. Best of luck.
Anonymous
07/06/2015 23:09
Subject: Is it possible for me to buy this house?
Anonymous wrote:Use a rebate realtor to buy. That's an extra 2% ($15K) in your pocket.
ie, a redfin realtor or?
Anonymous
07/06/2015 15:04
Subject: Re:Is it possible for me to buy this house?
If you have to ask, the answer is no.
Anonymous
07/06/2015 10:59
Subject: Is it possible for me to buy this house?
Use a rebate realtor to buy. That's an extra 2% ($15K) in your pocket.
Anonymous
07/06/2015 10:52
Subject: Is it possible for me to buy this house?
We have a HHI of $250k and owned a condo. We refinanced the condo, took about $160k in equity, and used it for the downpayment for a $780k house. We rent out the condo for a small profit.
Can you easily rent out your house and make a profit?
Can you easily rent out your house and make a profit?
Anonymous
07/06/2015 10:17
Subject: Is it possible for me to buy this house?
OP, you CAN do it. Whether or not you and spouse have the appetite for it all is a different question. Maybe what you need to calculate is "how long can i carry two mortgages?"
Anonymous
07/06/2015 06:48
Subject: Re:Is it possible for me to buy this house?
Anonymous wrote:OP again. I think we could sell our current house for $500k. The agent who sells most of the houses in our neighborhood will take 2% instead of 3% so %% total commission. If we sell at $500k, that would be $100k more than we owe minus a $25k commission, so $75k. We could scrape together another $25k without dipping into retirement, so $100k for a DP. Assuming we paid full price for the house that has been sitting for two months, which we'd try not to, we could put 13% down. But it's my understanding that there's no point in putting down more than 10% unless you can put down 20%. It's definitely not the soundest financial move, but we want to move to the neighborhood where this house is in the next two years, and this house is just so perfect for us. I'm definitely thinking with my heart, not my head. We probably won't try it, but I've enjoyed fantasizing about it this afternoon.
It could work. It's so uncommon to find a house that I really love. If you are like me, go for it.
Anonymous
07/05/2015 19:53
Subject: Re:Is it possible for me to buy this house?
Anonymous wrote:OP again. I think we could sell our current house for $500k. The agent who sells most of the houses in our neighborhood will take 2% instead of 3% so %% total commission. If we sell at $500k, that would be $100k more than we owe minus a $25k commission, so $75k. We could scrape together another $25k without dipping into retirement, so $100k for a DP. Assuming we paid full price for the house that has been sitting for two months, which we'd try not to, we could put 13% down. But it's my understanding that there's no point in putting down more than 10% unless you can put down 20%. It's definitely not the soundest financial move, but we want to move to the neighborhood where this house is in the next two years, and this house is just so perfect for us. I'm definitely thinking with my heart, not my head. We probably won't try it, but I've enjoyed fantasizing about it this afternoon.
Meant to say "5% total commission"
Anonymous
07/05/2015 19:53
Subject: Re:Is it possible for me to buy this house?
OP again. I think we could sell our current house for $500k. The agent who sells most of the houses in our neighborhood will take 2% instead of 3% so %% total commission. If we sell at $500k, that would be $100k more than we owe minus a $25k commission, so $75k. We could scrape together another $25k without dipping into retirement, so $100k for a DP. Assuming we paid full price for the house that has been sitting for two months, which we'd try not to, we could put 13% down. But it's my understanding that there's no point in putting down more than 10% unless you can put down 20%. It's definitely not the soundest financial move, but we want to move to the neighborhood where this house is in the next two years, and this house is just so perfect for us. I'm definitely thinking with my heart, not my head. We probably won't try it, but I've enjoyed fantasizing about it this afternoon.