No. of Recommendations: 0
Rebalancing your taxable savings & stocks (after setting aside sufficient safety reserves) into your real estate equity would probably be a decent move at present... so roll your 10% down plus non-seller-paid closing costs out of that account into the real estate account.

$65k is 10% down....
$19,500 is 3% assumed closing costs & prepaids.
=======
$84,500 gets you the key on $650,000 home.


Hi Dave,

What you laid out is exactly what I would like to do, I was just told 10% down financing wasn't available. Sounds like I need to reassess my mortgage broker...

Our credit is excellent, how much difference is there with a 7/1 or 10/1 ARM? Do you think 5 is the sweet spot right now?
Print the post  

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement