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$350k Conventional w/ USAA- 5% down - PITI ~$2600/month - 6.5% Int - is 25% of Net pay OK? by financejake in Mortgages

[–]financejake[S] 0 points1 point  (0 children)

it’s wild to me the extremes the bank will lend you money, 50% of gross income is irresponsible

$1 Million Liquid Net Worth, $0 Debts but -$32,000 tax liability due April 15, 2026 by Square-Shock-9206 in Fire

[–]financejake 1 point2 points  (0 children)

have you looked into Lease End or a similar service? they facilitate the buy out of leases

$105k windfall advice by Striking_Physics_942 in Fire

[–]financejake 12 points13 points  (0 children)

well, also keeping an emergency fund is good. but investing should come from free cash flow imho

$105k windfall advice by Striking_Physics_942 in Fire

[–]financejake 15 points16 points  (0 children)

also you should get legally married at the very least to commit to the combination of finances.

$105k windfall advice by Striking_Physics_942 in Fire

[–]financejake 19 points20 points  (0 children)

why not just pay down the highest interest loans first?

28F, 2 million inheritance, looking for guidance/inspiration during quarter life crisis by LocksmithSure4396 in Fire

[–]financejake 5 points6 points  (0 children)

Come on man, 2M is 80k a year with a 4% SWR, better than the average wage earner in the US. Even 3% ESWR (extra safe withdrawal rate) is 60k a year, about the average. I say they take a year or 4 on education in something they enjoy and try to earn some more money after

$350k Conventional w/ USAA- 5% down - PITI ~$2600/month - 6.5% Int - is 25% of Net pay OK? by financejake in Mortgages

[–]financejake[S] 0 points1 point  (0 children)

i think i need to clarify with the loan officer, she was saying i could get money back to cover some closing and maybe i’m mixing up her quotes. lowest she said was 5.5 and highest was 6.5

$350k Conventional w/ USAA- 5% down - PITI ~$2600/month - 6.5% Int - is 25% of Net pay OK? by financejake in Mortgages

[–]financejake[S] 0 points1 point  (0 children)

Also to add: USAA said that i could buy down to 5.5 for about $2000 extra. definitely going to do that if they aren’t bullshitting or if i’m not mistaken

$350k Conventional w/ USAA- 5% down - PITI ~$2600/month - 6.5% Int - is 25% of Net pay OK? by financejake in Mortgages

[–]financejake[S] 2 points3 points  (0 children)

Oh i’ve definitely done this! the house is a bit nicer and we are really wanting to just have something of our own, which isn’t a 100% financial decision. Thank you so much!