I (40m) have 223k in VTI in taxable and 125k VTI in roth basis i can pull out penalty free for a home. My fiance (33F) has about 250k in cash that can be used for a home. We both make about 120k gross, so 240k combined. She is a healthcare professional so lower risk of layoff (and easier to find work) than myself in finance; although the companies i have worked for have been through multiple major RIFs because of the major financial crisis' of the past 17 years and i have never been laid off probably due my pay being on the lower end of the job grade pay scale. we have no debt. we have about $1m combined in retirement accounts (not including the 125k roth mentioned earlier).
in a VHCOL area, so single family homes are at least 800k for starters. can we afford more than that? Is it a good idea to use the entire 598k we have for a down payment? it seems it would be better than accruing 6 to 7+ percent interest a year. Or would you just do a 20% down? Can i borrow against my stock holdings to use as down instead of selling it and is it a good idea to do that? i do hate the idea of selling my VTI or reaching into my roth. i can also borrow 50k from 401k, but i understand the risks of that if i get separated from my company i would have to pay the balance in full immediately
in a VHCOL area, so single family homes are at least 800k for starters. can we afford more than that? Is it a good idea to use the entire 598k we have for a down payment? it seems it would be better than accruing 6 to 7+ percent interest a year. Or would you just do a 20% down? Can i borrow against my stock holdings to use as down instead of selling it and is it a good idea to do that? i do hate the idea of selling my VTI or reaching into my roth. i can also borrow 50k from 401k, but i understand the risks of that if i get separated from my company i would have to pay the balance in full immediately
Statistics: Posted by bugleheadd — Sun Aug 04, 2024 10:46 pm — Replies 2 — Views 401