|
I'm looking to get a pre-approval. Most of the money I would put toward a down payment/etc is in a brokerage account (tracking stocks, so relatively volatile, but a shift of like 5-10% won't tank me or anything). Question is, should I do anything with the brokerage account in preparation (before applying)? Move money into a safer investment or just take the tax hit and cash it out? My only thought was that if I don't find any house to buy in the short term I would want to keep the money in the investment account, so cashing it out and putting it back in seems like a bad idea.
|
#
¿
Apr 6, 2024 07:05
|
|
|
|
| # ¿ May 2, 2024 10:44 |
|
|
The stocks are individual stock positions as part of my compensation from my employer (e.g., straight shares, not a money market etf or whatever). So my down payment would be some combination of cash and liquidating the brokerage account, though it's like 6:1 in favor of the brokerage. I don't mind taking the tax hit, I just want to make sure I'm not accidentally doubling-up on it or creating an issue if I don't find a place for like six months or a year or whatever and I should have kept the money a particular color. I can execute a trade Monday to cash out, but will that create any issue when I'm getting pre-approvals (e.g., looks weird in account history or something)? Motronic posted:So your downpayment is invested, and not just in broad market index funds but individual stocks? This isn't even a house buying question, it's a personal finance question. Money you need to use now doesn't go into investments, it needs to be in cash equivilents. I'm aware of the ramifications of holding this from a financial planning standpoint. I only decided to explore buying a house recently, so it wasn't like a brokerage/long-term savings account thing.
|
|
#
¿
Apr 6, 2024 17:37
|
|
|
Ditocoaf posted:I just mount my TV on the ceiling and lie on the floor. can’t do that in the bedroom, I already have a mirror there
|
|
#
¿
Apr 9, 2024 21:55
|
|
|
I have a loan "pre-approval" letter from a broker that's basically: I, the underwriter, have looked at a bunch of papers and will def give PRADA SLUT  after some downpayments and whateverBut nowhere in here does it list any fees, rate, or the like. Basically, not a standard form. Note that I didn't get a credit pull or anything, just a "let's look at some papers and figure out an amount you can shop with". I'm trying to compare my rate and Section A costs, but the doc lists none of them. Do I need a property "picked out" to get a standard loan estimate I can compare, or can I ask for an arbitrary estimate just to figure out what my rate and fees will look like?
|
|
#
¿
Apr 18, 2024 06:17
|
|
|
So, if I want to compare rates/costs from different lenders, when do I ask for the "real" loan document detailing such? When I'm putting down an offer? The broker told me that the pre-approval is valid enough to put down an offer (at which point they'll run credit and the like to get "real" numbers). Right now I have all my paperwork together but I've only talked to one local broker, whom I have the pre-approval letter. I was going to hit my bank to get a comparison but I don't know the timing. At this point, should I just call my broker and ask them to ballpark me their rates and fees, or does it not matter until I place an offer? Should I shop offers now or wait until I have a place picked out and an offer down (from waving around the brokers pre-approval letter)?
|
|
#
¿
Apr 18, 2024 15:53
|
|
|
So, to confirm, I place an offer with whatever pre-approval. Once the seller accepts, I've got ~30 days to pony up the real cash, and it doesn't matter where I get it? e.g., I can walk into a bank, say I have an offer that was accepted, and I want them to run my info to see what rate/etc I would get. And I do that a bunch at a bunch of places. And then I do wheeling and dealing until I get one I like and then the seller gets their money from somewhere Am I missing anything here?
|
|
#
¿
Apr 19, 2024 03:32
|
|
|
What’s the preferred way to shop for home insurance? My current insurer (lemonade) doesn’t do policies in California.
|
|
#
¿
Apr 27, 2024 16:26
|
|
|
|
| # ¿ May 2, 2024 10:44 |
|
|
smackfu posted:If you were moving into a new house, and you didn’t need to move in on the closing date, what stuff would you fix before moving in? Floors and painting seem like the obvious, am I missing anything? Outlets (esp in bathroom) and Ethernet runs and pull the “internet in” cable somewhere useful for a router.
|
|
#
¿
Apr 27, 2024 21:27
|
|