- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Buying new house before selling current one
Posted on 5/27/20 at 9:53 am to GeismarGeauxer
Posted on 5/27/20 at 9:53 am to GeismarGeauxer
I did this two years ago. This was so that we could move out/move in on our schedule.
You just have to be able to afford/qualify for two mortgages. Though I put down 20% on the new house to avoid PMI.
While I didn't need to, I took a loan from my 401k just in case. I've heard/seen enough things to want an additional cushion if something went wrong. Once the old house sold, I paid off the 401k loan. I'd only do this if your 401k doesn't force you to pay it back if you get laid off, leave the company etc.
You just have to be able to afford/qualify for two mortgages. Though I put down 20% on the new house to avoid PMI.
While I didn't need to, I took a loan from my 401k just in case. I've heard/seen enough things to want an additional cushion if something went wrong. Once the old house sold, I paid off the 401k loan. I'd only do this if your 401k doesn't force you to pay it back if you get laid off, leave the company etc.
0
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News