asianautica – Not really on the 401k. My wife’s employer does not match but provides a pension instead (inefficient state gov’t – but that’s another topic).
No, you currently cannot get a $700K loan for 5.5%. Flaw with my logic – for now.
Many things can happen between now and the time I buy. The conforming loan limit could revert back to $697K; banks could start doing 80% 2nd’s again which would allow me to get a $550K conforming plus $150K 2nd. Who knows what else…that’s what makes this so much fun.
$2200 is my budget today, and I currenly live in a 3000 sq ft rental.
