conv.

All stories
Active · 10h

Use 401k Loan for House

8 items0 engagement0 comments Reddit

Conversation activity · last 11 hours peak 5/15m

Peak 5 items in one 15m at Aug 11, 4 PM; 8 items over 11 hours Aug 11, 4:24 PM — no itemsAug 11, 4:39 PM — 1 item · Reddit 1Aug 11, 4:54 PM — 5 items · Reddit 5Aug 11, 5:09 PM — no itemsAug 11, 5:24 PM — 1 item · Reddit 1Aug 11, 5:39 PM — 1 item · Reddit 1Aug 11, 5:54 PM — no itemsAug 11, 6:09 PM — no itemsAug 11, 6:24 PM — no itemsAug 11, 6:39 PM — no itemsAug 11, 6:54 PM — no itemsAug 11, 7:09 PM — no itemsAug 11, 7:24 PM — no itemsAug 11, 7:39 PM — no itemsAug 11, 7:54 PM — no itemsAug 11, 8:09 PM — no itemsAug 11, 8:24 PM — no itemsAug 11, 8:39 PM — no itemsAug 11, 8:54 PM — no itemsAug 11, 9:09 PM — no itemsAug 11, 9:24 PM — no itemsAug 11, 9:39 PM — no itemsAug 11, 9:54 PM — no itemsAug 11, 10:09 PM — no itemsAug 11, 10:24 PM — no itemsAug 11, 10:39 PM — no itemsAug 11, 10:54 PM — no itemsAug 11, 11:09 PM — no itemsAug 11, 11:24 PM — no itemsAug 11, 11:39 PM — no itemsAug 11, 11:54 PM — no itemsAug 12, 12:09 AM — no itemsAug 12, 12:24 AM — no itemsAug 12, 12:39 AM — no itemsAug 12, 12:54 AM — no itemsAug 12, 1:09 AM — no itemsAug 12, 1:24 AM — no itemsAug 12, 1:39 AM — no itemsAug 12, 1:54 AM — no itemsAug 12, 2:09 AM — no itemsAug 12, 2:24 AM — no itemsAug 12, 2:39 AM — no itemsAug 12, 2:54 AM — no itemsAug 12, 3:09 AM — no items 5 items · 4:54 PM
6 PM8 PM10 PMAug 12now · 3:24 AM

Clustered from 8 items across 1 source. Not yet parsed — the coverage below is the raw record.

Social posts 1

Voices from the web unedited

  • Understand the risks and cons of a 401k loan: Your funds are pulled out of the market, stunting your 401k growth. The repayments are typically fixed payroll deductions, which yes is convenient but is a double edged sword: if you're ever tight on money later (which new homeowners famously are), this isn't a lever you can pull. Your HR will not…

    DaemonTargaryen2024r/personalfinance10h agoview on r/personalfinance ↗

  • None of this was originally part of the plan. Even with a small down payment we would easily be able to afford the home with less than 25% of combined income going to the house and we have no debt except for a car that will be paid off in early 2027. We did not count on the inheritance and were originally planning on selling his home first then…

    shadyshoresjoer/personalfinance9h agoview on r/personalfinance ↗

  • Have you consulted w a realtor on recent comps actually sold? In TX right now the Zillow estimate can be higher than the real value. My house’s Z estimate is 372k, but it would realistically only sell for 340-350k. Also you’re leaving out RE fees of approx. 6%, so even if it sells for 240k he’ll clear approx. 225k which leaves 30k cash proceeds.

    SteevieJanowskir/personalfinance10h agoview on r/personalfinance ↗

  • You're not going to get as much from that home sale as you think...remember closing costs, repairs, etc. You could always pay a lower down payment, then when the house sells, you could take the proceeds, throw them at the new mortgage, and then recast the mortgage for a lower monthly payment.

    anexaminedlifer/personalfinance10h agoview on r/personalfinance ↗

  • My math isn’t mathing today. So check me. But your downpayment from the sell of his home is gonna be 20kish after it’s all done. Then you have 35k in cash. For a Total of 55k for a downpayment. 70k would give you 20% down on a 350k house. So you’re short 15k to not have pmi.

    itsallmeaninglesstor/personalfinance10h agoview on r/personalfinance ↗

  • If your credit is decent, you can definitely get a mortgage without 20% down. Better to pay a bit of PMI than to take on the risks that can come with 401k loans.

    chilidoggor/personalfinance9h agoview on r/personalfinance ↗

  • In short, this is a dumb decision to make in exchange for a slightly larger down payment

    Real_Guarantee_4530r/personalfinance10h agoview on r/personalfinance ↗