▲ 164 r/pho
Pho with fresh noodle
First time having it with fresh noodles, super good.
u/blasian21 — 5 days ago
▲ 6 r/Mortgages
Buying new construction in CA, $779k purchase, 20% down, 30-year fixed conventional.
Builder originally offered $40k in credits to bring price to $739k, I’d use my own lender at 6.25%.
They came back with: use our in-house lender, we’ll take $20k off the price and use the other $20k to buy down your rate to 4.99%.
The math:
• Own LO: $739k price, 6.25%, ~$5,100/month
• Builder lender: $759k price, 4.99%, ~$4,670/month
• $432/month difference
• ~$4k more out of pocket at closing
• Break-even if I refi: ~4 years
Would you rather than the 40k towards the purchase price or buy down the rate which is heavily subsidized by the builder as an incentive?
u/blasian21 — 2 months ago
▲ 307 r/Money
Very high cost of living area, includes home equity. I’m in tech (salary range from 100k to 130k for most of this). Wife is in health care with a similar salary.
Did it the boring way, max out Roth and 401k every year and put into S&P 500.
“Other assets” is the value of our home. Subtract the home loan amount to get the amount of equity owned.
u/blasian21 — 2 months ago