Loan against assets

Nov 30, 2021 13 Comments

Looking to buy 1.2-1.5m house, so need 300k down-payment. Currently have 100k in retirement accounts plus 300k in stock with Fidelity. How do I go about borrowing down-payment money without liquidating all my stock? Which company can lend me against my assets? Should I contact Fidelity or someone else? How do such transactions typically work?

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TOP 13 Comments
  • Amazon
    mr4532486

    Go to company page Amazon

    mr4532486
    This is hard, but i think Edward Jones might be better equipped to help.

    Ps.: If your liquid asset mix is only 300k, i wouldnt buy a 1.2M house rn. Just me
    Nov 30, 2021 1
  • Simply put, you need to save more, buy a cheaper house or wait it out longer. These are serious debt numbers and don’t try to squeeze out a justification unless you know you’ve got some big paydays coming (vesting/bonus). With the house you’ll have to account for taxes, repairs and improvements. Bankers will love you but your debtor lifestyle may risk your mental state.

    Only way to borrow is against equity and earnings potential. Good luck
    Nov 30, 2021 1
  • PayPal
    aaaaabbbbb

    Go to company page PayPal

    aaaaabbbbb
    Agreed with other posters - the whole point of a down payment is a payment, not a loan against assets. It might work if you were ultra rich. But for the rank and file, you should sell your stock. I mean, you’re already leveraged to buy the house, you want to leverage more to own stocks on effective margin?
    Nov 30, 2021 1
  • Oracle
    xR3p0

    Go to company page Oracle

    xR3p0
    Sell stocks
    Nov 30, 2021 0
  • Nokia
    AIKON

    Go to company page Nokia

    AIKON
    Many big banks will help you but not for all 20% down.
    FYI, Only 20% down is not enough, need to show 12 month reserves to get a loan.

    + closing costs - big banks about 10 to 15k. All online banks try to trick you for 25 to 30k.
    Nov 30, 2021 1