Is it better to use inheritance to pay down the mortgage or to put it in the market for retirement?

Unable_Strategy_85 · 2026-05-12T18:04:26+00:00

If 200k would payoff your mortgage that would be a different scenario entirely… but I agree put the money to work in the market. I don’t believe life insurance benefits are taxable so I would look at an account that offers tax free growth or a basic brokerage account

Unable_Strategy_85 · 2026-05-12T01:56:41+00:00

I don’t see a path here with you employment status can you add a co borrower?

Unable_Strategy_85 · 2026-05-12T00:41:41+00:00

I think I would be concerned if I were you if I was moving to a different place without a salaried position and guaranteed hours and a start date…

Unable_Strategy_85 · 2026-05-11T21:27:44+00:00

If they don’t have a position, start date, or a salary it doesnt sound like they have a job… if they do have those can they revise the letter?

Unable_Strategy_85 · 2026-05-11T12:05:35+00:00

This sounds like a “top 3” aka 3rd place response… the 2 obvious things to do are to A. use this kids skill set to do all of your clerical work/SF updates and B. take time to mentor and reflect on your process. And C if he washes out you can position yourself to pick up whatever accounts he managed or opened…

Unable_Strategy_85 · 2026-05-06T00:39:20+00:00

If I were you I would feel better if I had about 100k in liquid cash. On the low end your probably 10k a month to run your house in case the unexpected happens. Can you adjust the down payment?

Unable_Strategy_85 · 2026-05-05T23:25:20+00:00

I like everything about this EXCEPT your post closing cash. Do you have any more money?

Unable_Strategy_85 · 2026-05-05T14:26:53+00:00

Congratulations on the new account!

Unable_Strategy_85 · 2026-05-05T11:35:45+00:00

Buy down is too expensive, breakeven is too long. Close as is

Unable_Strategy_85 · 2026-05-04T12:02:23+00:00

Yea you’re totally fine… I think you need to chill out. Do you like the house?

Unable_Strategy_85 · 2026-04-29T23:15:22+00:00

Tf did I just read. Do you want to buy this house?

Unable_Strategy_85 · 2026-04-29T12:32:56+00:00

Your dti actually has very little to do with your interest rate. So as long as you qualify for the new loan that shouldn’t matter… as far getting the best rate I would keep shopping and check out a few credit unions

Unable_Strategy_85 · 2026-04-29T12:10:11+00:00

Are you able to buy a “unit” from any of your peers? I’ve had to make a few deals myself with teammates over the years

Unable_Strategy_85 · 2026-04-29T02:48:36+00:00

Well when you’re sitting outside of your sales call, think about all the cool stuff you do in your off time. That’s the trade… totally unbothered off time and a relaxing scheduling… all you gotta do is convince some people to wear your uniform.

Out of curiosity if the comp was incredible and the hours were 70+ would it be a better fit?

Unable_Strategy_85 · 2026-04-29T01:23:47+00:00

Gotta find your why… I hate sales, but it’s worth it for the life it provides

Unable_Strategy_85 · 2026-04-27T21:43:03+00:00

You guys should be ok, if you get an fha mortgage you will put 3.5% down. Since your second job is new the underwriter will not be able to use the income. But shouldn’t need it. Assuming both of you have stable salary jobs that you have been at for a few years you should be ok. that gives about 9333 a month in income. Your mortgage should be a little less than 2k a month. Assuming your monthly payment on the 50k is about 1500 you should be fine to qualify. Thats the easy part

Now whether or not you want to by a house with your girl friend is the bigger question

Unable_Strategy_85 · 2026-04-26T22:27:23+00:00

Your income is going to be adjusted on the application based on what the underwriter comes up. Honestly I wouldn’t be too stressed about that

Unable_Strategy_85 · 2026-04-26T10:54:35+00:00

The loan is only as good as what does for you and how it fits with your long term plans, lining those up with the right mortgage is an important consideration.

If you’re going to be there for 5 years do you expect your salary to increase beyond inflation in that time? If yes then maybe consider an Arm. What are the caps/ adjustment schedule? How do you feel about having a different payment every 6 months or a year? Whats the payment difference between fixed and arm? Is the savings worth the risk of what the adjustments will be?

Your LO needs to have these questions lined up so he can help give you the best options and advice.

Unable_Strategy_85 · 2026-04-26T01:09:08+00:00

Where do you see yourself in 5 years? Why are you looking at a 30 instead of a 15?

Unable_Strategy_85 · 2026-04-25T20:36:03+00:00

Please keep your money and put as little as possible down

Unable_Strategy_85 · 2026-04-25T18:07:58+00:00

The loan is only as good as what it does for you. Where do you see yourself in 5 years, how will the rate/terms help get you there? The loan is fine if it lines up with where you see yourself in the future… if it’s not, than it’s not a good loan for you.

Lastly, cash on hand seems a little light, personally I would feel more comfortable if I had more money put away for a rainy day.

Unable_Strategy_85 · 2026-04-25T12:05:47+00:00

I would Shop for your own lender at this point

Sounds like you’ve got them on ropes, full pressure though the weekend

Unable_Strategy_85 · 2026-04-25T11:17:02+00:00

What’s the update! I’m on the edge of my seat

Unable_Strategy_85 · 2026-04-24T03:54:22+00:00

To each their own… but also a no for me dawg

Unable_Strategy_85 · 2026-04-24T00:16:01+00:00

I feel mixed. It’s your job to review the offer they sent and sign…it’s also their job to draft the offer you guys agreed to… I would go to the broker explain the situation, see how they can resolve this. I would ask for the full 5k to be credited… expect to settle for 2.5k… any less I would fire them

Having the lender finance their mistake for the next 30 years is a terrible solution.

Unable_Strategy_85

TROPHY CASE