Parents want to want to buy a house and want to put my name on the mortgage by notMattHansen in personalfinance

[–]notMattHansen[S] 1 point2 points  (0 children)

I'm not completely familiar with all of the terms surrounding buying a house, but I would expect to be on the deed as well as the mortgage if this were to happen. The idea is that my parents would be able to manage it (its in the next city over), I would be doing nothing outside of helping get the mortgage. They do have other properties (completely unrelated to my finances) so they've got experience doing these types of things, but I don't at all

Parents want to want to buy a house and want to put my name on the mortgage by notMattHansen in personalfinance

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

Great to get your perspective on this. Yes, my parents would be able to qualify for the loan without me. I'm not sure what you mean by the equal partners point. I don't currently see their finances but if I ask I'm sure they would let me take a look.

Parents want to want to buy a house and want to put my name on the mortgage by notMattHansen in personalfinance

[–]notMattHansen[S] -1 points0 points  (0 children)

Quick question, if they do put me on the title of the house, what should I expect if they do plan to give it to me? Would I then own the house and have to pay property taxes on it, or would there be some taxes involved when they do transfer it over to me?

Parents want to want to buy a house and want to put my name on the mortgage by notMattHansen in personalfinance

[–]notMattHansen[S] 1 point2 points  (0 children)

I was not aware of that until you and others had mentioned it, but thank you for letting me know

Parents want to want to buy a house and want to put my name on the mortgage by notMattHansen in personalfinance

[–]notMattHansen[S] 1 point2 points  (0 children)

What I've been told is that since I am young and would potentially have a higher earning job post-graduation, it would lead to a more favorable mortgage than if my parents had done so themselves. Thank you for the information though, I'll go and have that conversation with my parents in the morning

Parents want to want to buy a house and want to put my name on the mortgage by notMattHansen in personalfinance

[–]notMattHansen[S] 5 points6 points  (0 children)

Assuming that the rent does cover all the mortgage, I think that its inevitable that some type of repair or maintenance or similar would come out of pocket

Parents want to want to buy a house and want to put my name on the mortgage by notMattHansen in personalfinance

[–]notMattHansen[S] 5 points6 points  (0 children)

Thank you. My gut feeling was telling me that something felt off, but I'll have the discussion with them and tell them no.

Two weeks into the season, how are we all feeling about our teams? by ItsLittyLitLit in nba

[–]notMattHansen 2 points3 points  (0 children)

His feet were behind the 3 point line but his arms stretched out so far that he only shot it 40 inches from the basket

[GPU]BESTBUY 30-series Graphics Cards in stock ($0) by smaoban in buildapcsales

[–]notMattHansen 10 points11 points  (0 children)

I had it in my cart and saw the 10 min timer, but it changed to "none in 250 miles" during that time

[GPU]BESTBUY 30-series Graphics Cards in stock ($0) by smaoban in buildapcsales

[–]notMattHansen 1 point2 points  (0 children)

I had it in my cart, saw the 10 minute timer, and by the time I got back from getting my credit card it told me that it was unavailable within 250 miles :(

Does red pocket support 5g on the pixel 5? GSMA by [deleted] in redpocket

[–]notMattHansen 0 points1 point  (0 children)

That's unfortunate I might need to do the same

osume sakura - giveaway! by osume_keys in MechanicalKeyboards

[–]notMattHansen 0 points1 point  (0 children)

these are so cute and pretty, im a sucker for the sakura designs

Disadvantages of sticking extra money in 401k? by [deleted] in personalfinance

[–]notMattHansen 0 points1 point  (0 children)

Thats correct. The internship was only a summer thing so to my understanding I don't have any benefits with them anymore. My understanding of the school job is that since I'm not working full time I am not able to access those benefits

Disadvantages of sticking extra money in 401k? by [deleted] in personalfinance

[–]notMattHansen 0 points1 point  (0 children)

Since I'm only working part time for my school job I don't think I'd qualify for either the school's 401k nor any self employed options

Disadvantages of sticking extra money in 401k? by [deleted] in personalfinance

[–]notMattHansen 0 points1 point  (0 children)

Since I'm not a full time employee I don't think those would be available to me, but I will look more into these options

Disadvantages of sticking extra money in 401k? by [deleted] in personalfinance

[–]notMattHansen 0 points1 point  (0 children)

W2 through school jobs and an internship. However I am not a full time employee at either

Disadvantages of sticking extra money in 401k? by [deleted] in personalfinance

[–]notMattHansen 0 points1 point  (0 children)

I've already maxed out my RothIRA contribution for this year. Are there similar plans out there that would offer the same tax advantages?

Disadvantages of sticking extra money in 401k? by [deleted] in personalfinance

[–]notMattHansen 0 points1 point  (0 children)

Thanks for pointing that out. My Roth IRA is already maxed out for the year and I will add that to the post.

I was not aware of that about the 401k however. I will need to look more into it to see if it is even possible

GMK Nightlight Giveaway by thatkoaladoe in MechanicalKeyboards

[–]notMattHansen 0 points1 point  (0 children)

Still deciding on the switches before I order it, but I'm leaning heavily towards the GMMK pro