Cash in bank 70K.
401K has 200K.
TC is 185K all cash.
Married (spouse does not work) with a kid.
Should I even think of a 750K house ? Either I will have to pay <20% and pay PMI - Or lend significantly from 401k.
Thoughts ?
If I go for it, should I go the PMI route or the 401K route ?
I live in a very high cost location and my rent is close to 3000 🙁
Want to see the real deal?
More inside scoop? View in App
More inside scoop? View in App
blind
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
FOLLOWING
Industries
Job Groups
- Software Engineering
- Product Management
- Information Technology
- Data Science & Analytics
- Management Consulting
- Hardware Engineering
- Design
- Sales
- Security
- Investment Banking & Sell Side
- Marketing
- Private Equity & Buy Side
- Corporate Finance
- Supply Chain
- Business Development
- Human Resources
- Operations
- Legal
- Admin
- Customer Service
- Communications
Return to Office
Work From Home
COVID-19
Layoffs
Investments & Money
Work Visa
Housing
Referrals
Job Openings
Startups
Office Life
Mental Health
HR Issues
Blockchain & Crypto
Fitness & Nutrition
Travel
Health Care & Insurance
Tax
Hobbies & Entertainment
Working Parents
Food & Dining
IPO
Side Jobs
Show more
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
comments
I did it but only because I could find a housemate. (I’m single, no kids).
So to your question, I’d say “probably not”, if you want to maintain the same live style . Also think about the long term interest it’d cost you if you were to take the 30 yr mortgage