Help with downpayment on apartment Hello, I (20F) am going through a lot of financial hardship right now. I am currently looking for a job, and I have a low credit score due to lack of credit history and poor financial management. I am a student, and I have been applying to apartments in my area to rent. I was approved for an apartment, but they are requiring a 975$ down payment …

What do I do with 40k that may be soon downpayment, or long-term investment? Let get this out of the way, not super financially literate, this is money separate of my retirement and emergency savings. I have worked diligently and saved up 40k I plan on eventually putting on a down payment on a home (to add to when I’m ready to buy). The thing is, I have a day in January that will tell me if I can travel soon (6 months), …

Kept most of my money in 5% for a long time as downpayment, but unsuccessful getting house. I’ve made a bit of a goof and a gaff, by keeping most (75%) of my money in money market in 5% money markets for more than a year, while I’ve been searching for housing, but that hasn’t panned out and now I’m facing some regrets about missing out on these crazy market gains. But risk free 5% is not the worst, I understand. I still invest in 401k …

Sell off Apple stock for house downpayment? My wife currently owns 73 shares of Apple, originally gifted to her by her grandpa many years ago. We are both 25 years old & renting an apartment right now. Buying a home is very important to us both as our next goal. My question is this: would you recommend we sell the stock as one of the sources of our house downpayment? Or would you keep ho…

Should I sell my car to fund a downpayment for a flat? So, I need some advice on a financial decision I’m considering. Last year, I bought a car for $45k and I’ve managed to pay off $15k of it so far. At the time, I was super excited about the car, but now it feels more like a liability. I recently had a stroke of luck and won $20k from a sports parlay bet in the Euro24 games. Now I’m thinking about…

Early 401k Withdrawal to Help with downpayment Hi, 26 year old from NJ here want to make sure I am understanding my early 401k withdrawal request correctly. I worked at a company for about 3 years and totaled $10,771 in my 401k over the 3 years. I have Recently moved jobs and are making much more and they have a 5% 401k match!(I’m putting 8% and they are matching 5, so 13% total) To state th…

Thoughts on using Roth IRA *contributions* to help fund home downpayment? Could this be considered a solid move with interest rates being as high as they are if you already have solid retirement savings? Late 20s with ~270k in retirement savings. Of this, 113k is on Roth IRAs and 74k of that is contributions (which can be withdrawn tax and penalty free at any time). Current home has around 70k in equity and we have a …

Gift from family *after* putting together mortgage downpayment. I am in the process of buying a house. We had the money for the downpayment in several accounts – one with 375k and one with 25k that I share historically with my dad. No history of recent deposits from him into the account, we created it that way decades ago when I was in college. I then pooled the funds together to make the 400k downpayment. T…

House Downpayment + Tax Implications? Im buying a house and have a hefty down payment. Let’s keep it simple dollar amounts simple. I will owe $300 for my loan down payment. Current Savings: • $140 in espp stock (long term gains) • $322 in money market account Am I better off paying my down payment with $225 from money market + $80 from stock? Or should I deplete my money market to …

HELOC vs. Liquidate Stocks for investment property downpayment Good day all – 30 year old New England Lawyer. I was considering buying an investment property in an area of upstate New York where my family lives. This would be my second investment property for about 200k (I have since sold the first one). I’m wondering the best way to finance my down payment of about 60k including closing costs. My current…

Seeking Advice on Saving for a House Downpayment in 3-5 Years I’m currently exploring options for saving a large downpayment for a future home purchase and would appreciate any advice or insights you might have. Here’s a brief overview of my current situation: Background: Just graduated and started a high-paying job. I live with my parents in a high-cost-of-living (HCOL) area where they have relatively l…

Large downpayment for home? Or use that money instead to invest long-term? $200k in savings, 35 years old, still no home. Is it better to put $150k+ on downpayment for a ~$250k home, or is it better to invest $150k somehow? If it’s financially better to invest and simply keep renting ($1400/mo), where to invest it? Salary ~$100k but only actually see about $40k of that each year after all payments. In USA. Goal: Having…

How much savings should I have after my downpayment for a home? How much did you keep in savings/emergency funds? Obviously we have to use a large chunk of our savings, actually almost all to buy a place. We are going to be left with enough to cover 5 months of living expenses, plus our closing costs like lawyer/home inspection etc. Should we put a smaller downpayment so we have more savings cushion? This means our monthly payments are a bit higher. Afte…

Family plans to assist us with downpayment on a home in WA State. Plan is not to treat as a loan, and they would keep a % of equity in the home. Smart to move forward? Me and my partner have been given an offer from her side of the family in WA State. We plan on moving in the next year from CA to WA, to be closer to family. Her family gave us an offer and it’s a lot to think about. Both parties want to do it correctly to avoid any drama, as I know money moved between family members can be tricky sometimes. Bot…

Saving for a downpayment: Slow 401k contributions vs taking from Roth contributions? I’m 26, Id love to buy a house with my girlfriend within 2-3 years. I make $72k a year, she owns a business that did $50k or so in year 1, but her profit margins are still being worked on. Let’s assume her income is $20k net. Here’s our breakdown: $9k joint savings in HYSA (specifically for down payment) $10k personal savings $3k checking $48…

$2500 a month. All in index funds or house downpayment? I have roughly $2500 a month that I can do whatever with it. Initially, I was planning to put all of it in an index fund and contribute to it monthly. However, after a discussion with my wife (and we do have a daughter) we want to purchase a home to settle down in maybe 5 to 6 years from now. My wife does work and she does make more than me. So …