Any help/advice would be greatly appreciated.
My question is how much money should I put down and should I sell my taxable investments in VTSAX now or hope that they have continued to rise up until home completion? Next question is should I pay about an additional 1 percentage point above market rate for my mortgage in order to take advance of a NFCU program that allows you unlimited no refi, rate changes, if rates were to go down in the future? **Would need to pay $250 each time I decreased interest rate, and can do it every 6 months if I chose**
I am under contract to purchase a new construction home, estimated date of completion is July 2025. These are town house buildings that are staying on schedule so that estimated date of completion is very likely.
Some hopefully, quick relevant facts.
Town home price is $685K
I want to put down at least 20%, which is $137k.
This leaves a $548k mortgage.
I have ~$180k in a taxable brokerage that was not ear marked for anything in particular.
I have ~$35k in a money market account. I will probably save up another $50-$100k before the settlement date.
I will have a Fed pension of about $50k. I have about $700k in retirement accounts.
Mortgage rates now are in the 6-7.5% range.
I am 41 years old, engaged, and have a child from a previous marriage.
My question is how much money should I put down and should I sell my taxable investments in VTSAX now or hope that they have continued to rise up until home completion? Next question is should I pay about an additional 1 percentage point above market rate for my mortgage in order to take advance of a NFCU program that allows you unlimited no refi, rate changes, if rates were to go down in the future? **Would need to pay $250 each time I decreased interest rate, and can do it every 6 months if I chose**
I am under contract to purchase a new construction home, estimated date of completion is July 2025. These are town house buildings that are staying on schedule so that estimated date of completion is very likely.
Some hopefully, quick relevant facts.
Town home price is $685K
I want to put down at least 20%, which is $137k.
This leaves a $548k mortgage.
I have ~$180k in a taxable brokerage that was not ear marked for anything in particular.
I have ~$35k in a money market account. I will probably save up another $50-$100k before the settlement date.
I will have a Fed pension of about $50k. I have about $700k in retirement accounts.
Mortgage rates now are in the 6-7.5% range.
I am 41 years old, engaged, and have a child from a previous marriage.
Statistics: Posted by Gardener — Fri Jan 10, 2025 12:51 pm — Replies 0 — Views 82