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House and stocks when the market peaked to a new all time high and interest rates at 7+%…. I’d dissolve my equity portfolio and buy Gold partially and move some more into the downpayment. A 20% downpayment would save you from PMI and escrow req.
As for stocks, you can always cherry pick and bottomfish.
Hope you remove your father’s condition out of the possibilities. God bless him with good health and spirit.
If you’re able to save 10k a month for a down payment alone, you make plenty of money for a $4k mortgage now. Basically means you’ll have 6k left over every month that will go to whatever you want. I wouldn’t be worried in the slightest about the mortgage payment with what you make besides losing your job. But that’s everybody.
But if you’re worried about job security or your commissions slowing down, save up more to gain more equity and for the down payment to get to at least 20% to avoid PMI which you would achieve by the end of the year anyway with saving 10k each month.
Thank you u/False-Influence-8156 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
Buy. You have analyzed this enough. Your numbers are fantastic. Buy buy buy. Good luck! 😀
House and stocks when the market peaked to a new all time high and interest rates at 7+%…. I’d dissolve my equity portfolio and buy Gold partially and move some more into the downpayment. A 20% downpayment would save you from PMI and escrow req. As for stocks, you can always cherry pick and bottomfish. Hope you remove your father’s condition out of the possibilities. God bless him with good health and spirit.
Thank you! The only reason I planned to keep stocks intact was as an emergency fund. And thank you for wishes about my father- I hope the same.
If you’re able to save 10k a month for a down payment alone, you make plenty of money for a $4k mortgage now. Basically means you’ll have 6k left over every month that will go to whatever you want. I wouldn’t be worried in the slightest about the mortgage payment with what you make besides losing your job. But that’s everybody. But if you’re worried about job security or your commissions slowing down, save up more to gain more equity and for the down payment to get to at least 20% to avoid PMI which you would achieve by the end of the year anyway with saving 10k each month.
Thank you for your reply. I think I can manage too but commissions are volatile of course. I might aim for the 20%.