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equalizer.
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April 12, 2011 at 12:02 AM #686781April 12, 2011 at 6:32 AM #685639
UCGal
Participant[quote=UCguy]Anybody else thinks that it’s best to wait to save cash for 20% down, rather than borrow from 401K?[/quote]
Ideally yes. But it may not work for your time frame.PMI is giving money away. You guys have great income… Can you maximise your savings to get the 20% as soon as possible – it will save you $ in the long run. And I already voiced that the 401k thing can bite you big time if one of you has a job change.
Channel your inner cheapskate and penny pinch and save till you have your 20% down.
I agree with AN that Mira Mesa should be considered. The schools are better than the perception if you look at API scores. (This board and AN opened my eyes to that. I suffered the common misconception that Mira Mesa schools were sub-optimal.) It’s a better commute to UCSD so that’s a bit of a trade off for the longer commute to north county.
April 12, 2011 at 6:32 AM #685693UCGal
Participant[quote=UCguy]Anybody else thinks that it’s best to wait to save cash for 20% down, rather than borrow from 401K?[/quote]
Ideally yes. But it may not work for your time frame.PMI is giving money away. You guys have great income… Can you maximise your savings to get the 20% as soon as possible – it will save you $ in the long run. And I already voiced that the 401k thing can bite you big time if one of you has a job change.
Channel your inner cheapskate and penny pinch and save till you have your 20% down.
I agree with AN that Mira Mesa should be considered. The schools are better than the perception if you look at API scores. (This board and AN opened my eyes to that. I suffered the common misconception that Mira Mesa schools were sub-optimal.) It’s a better commute to UCSD so that’s a bit of a trade off for the longer commute to north county.
April 12, 2011 at 6:32 AM #686317UCGal
Participant[quote=UCguy]Anybody else thinks that it’s best to wait to save cash for 20% down, rather than borrow from 401K?[/quote]
Ideally yes. But it may not work for your time frame.PMI is giving money away. You guys have great income… Can you maximise your savings to get the 20% as soon as possible – it will save you $ in the long run. And I already voiced that the 401k thing can bite you big time if one of you has a job change.
Channel your inner cheapskate and penny pinch and save till you have your 20% down.
I agree with AN that Mira Mesa should be considered. The schools are better than the perception if you look at API scores. (This board and AN opened my eyes to that. I suffered the common misconception that Mira Mesa schools were sub-optimal.) It’s a better commute to UCSD so that’s a bit of a trade off for the longer commute to north county.
April 12, 2011 at 6:32 AM #686459UCGal
Participant[quote=UCguy]Anybody else thinks that it’s best to wait to save cash for 20% down, rather than borrow from 401K?[/quote]
Ideally yes. But it may not work for your time frame.PMI is giving money away. You guys have great income… Can you maximise your savings to get the 20% as soon as possible – it will save you $ in the long run. And I already voiced that the 401k thing can bite you big time if one of you has a job change.
Channel your inner cheapskate and penny pinch and save till you have your 20% down.
I agree with AN that Mira Mesa should be considered. The schools are better than the perception if you look at API scores. (This board and AN opened my eyes to that. I suffered the common misconception that Mira Mesa schools were sub-optimal.) It’s a better commute to UCSD so that’s a bit of a trade off for the longer commute to north county.
April 12, 2011 at 6:32 AM #686811UCGal
Participant[quote=UCguy]Anybody else thinks that it’s best to wait to save cash for 20% down, rather than borrow from 401K?[/quote]
Ideally yes. But it may not work for your time frame.PMI is giving money away. You guys have great income… Can you maximise your savings to get the 20% as soon as possible – it will save you $ in the long run. And I already voiced that the 401k thing can bite you big time if one of you has a job change.
Channel your inner cheapskate and penny pinch and save till you have your 20% down.
I agree with AN that Mira Mesa should be considered. The schools are better than the perception if you look at API scores. (This board and AN opened my eyes to that. I suffered the common misconception that Mira Mesa schools were sub-optimal.) It’s a better commute to UCSD so that’s a bit of a trade off for the longer commute to north county.
April 12, 2011 at 7:40 AM #685659scaredyclassic
ParticipantOk here’s what I think today. Too much delayed grtification is demoralizing. So, saving for retirement and saving for a downpayment is just too much, it ducks the energy out if both goals. Stop contributing to the 401k till you get 20 percent.
Wait, dammit what is the company match. I hate to leave money on the table
but. …but…
Ahhh… I don’t know. But pmi sucks. Somehow get to that 20 percent. But no bank robberies
April 12, 2011 at 7:40 AM #685713scaredyclassic
ParticipantOk here’s what I think today. Too much delayed grtification is demoralizing. So, saving for retirement and saving for a downpayment is just too much, it ducks the energy out if both goals. Stop contributing to the 401k till you get 20 percent.
Wait, dammit what is the company match. I hate to leave money on the table
but. …but…
Ahhh… I don’t know. But pmi sucks. Somehow get to that 20 percent. But no bank robberies
April 12, 2011 at 7:40 AM #686337scaredyclassic
ParticipantOk here’s what I think today. Too much delayed grtification is demoralizing. So, saving for retirement and saving for a downpayment is just too much, it ducks the energy out if both goals. Stop contributing to the 401k till you get 20 percent.
Wait, dammit what is the company match. I hate to leave money on the table
but. …but…
Ahhh… I don’t know. But pmi sucks. Somehow get to that 20 percent. But no bank robberies
April 12, 2011 at 7:40 AM #686479scaredyclassic
ParticipantOk here’s what I think today. Too much delayed grtification is demoralizing. So, saving for retirement and saving for a downpayment is just too much, it ducks the energy out if both goals. Stop contributing to the 401k till you get 20 percent.
Wait, dammit what is the company match. I hate to leave money on the table
but. …but…
Ahhh… I don’t know. But pmi sucks. Somehow get to that 20 percent. But no bank robberies
April 12, 2011 at 7:40 AM #686831scaredyclassic
ParticipantOk here’s what I think today. Too much delayed grtification is demoralizing. So, saving for retirement and saving for a downpayment is just too much, it ducks the energy out if both goals. Stop contributing to the 401k till you get 20 percent.
Wait, dammit what is the company match. I hate to leave money on the table
but. …but…
Ahhh… I don’t know. But pmi sucks. Somehow get to that 20 percent. But no bank robberies
April 12, 2011 at 7:44 AM #685664xtina
ParticipantUCGuy, I’m not much in the mood for crunching numbers now, but I will offer you another point of thought.
You have stated that you are in your early 40s. 30 year loan will take you past your retirement. You need to be able to pay off your mortgage to live comfortably when older! That in it of itself begs urgency. Understandably.
I would also urge you to reconsider the 5 bedroom house. Your housing situation is very much the situation my parents were in when they decided to buy. 3 kids, aging parents. They got a five bedroom house. Now my grandparents have passed away and my sister and I have practically moved out. In a couple more years there will only be two of them living in a 5 bedroom house. I think in hindsight they might have gotten a smaller house and just let everyone swish a bit. Perhaps this will result in a mortgage that is less risky for you at this point.
Very interesting thread.
April 12, 2011 at 7:44 AM #685718xtina
ParticipantUCGuy, I’m not much in the mood for crunching numbers now, but I will offer you another point of thought.
You have stated that you are in your early 40s. 30 year loan will take you past your retirement. You need to be able to pay off your mortgage to live comfortably when older! That in it of itself begs urgency. Understandably.
I would also urge you to reconsider the 5 bedroom house. Your housing situation is very much the situation my parents were in when they decided to buy. 3 kids, aging parents. They got a five bedroom house. Now my grandparents have passed away and my sister and I have practically moved out. In a couple more years there will only be two of them living in a 5 bedroom house. I think in hindsight they might have gotten a smaller house and just let everyone swish a bit. Perhaps this will result in a mortgage that is less risky for you at this point.
Very interesting thread.
April 12, 2011 at 7:44 AM #686342xtina
ParticipantUCGuy, I’m not much in the mood for crunching numbers now, but I will offer you another point of thought.
You have stated that you are in your early 40s. 30 year loan will take you past your retirement. You need to be able to pay off your mortgage to live comfortably when older! That in it of itself begs urgency. Understandably.
I would also urge you to reconsider the 5 bedroom house. Your housing situation is very much the situation my parents were in when they decided to buy. 3 kids, aging parents. They got a five bedroom house. Now my grandparents have passed away and my sister and I have practically moved out. In a couple more years there will only be two of them living in a 5 bedroom house. I think in hindsight they might have gotten a smaller house and just let everyone swish a bit. Perhaps this will result in a mortgage that is less risky for you at this point.
Very interesting thread.
April 12, 2011 at 7:44 AM #686484xtina
ParticipantUCGuy, I’m not much in the mood for crunching numbers now, but I will offer you another point of thought.
You have stated that you are in your early 40s. 30 year loan will take you past your retirement. You need to be able to pay off your mortgage to live comfortably when older! That in it of itself begs urgency. Understandably.
I would also urge you to reconsider the 5 bedroom house. Your housing situation is very much the situation my parents were in when they decided to buy. 3 kids, aging parents. They got a five bedroom house. Now my grandparents have passed away and my sister and I have practically moved out. In a couple more years there will only be two of them living in a 5 bedroom house. I think in hindsight they might have gotten a smaller house and just let everyone swish a bit. Perhaps this will result in a mortgage that is less risky for you at this point.
Very interesting thread.
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