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Brown Cafe UPS Forum
Life After Brown
Buying a home
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<blockquote data-quote="CoffeeStainedUniform" data-source="post: 3626924" data-attributes="member: 73423"><p>First: 19% going into retirement is awesome...but a little premature before you're in a house. Cut back the 401k to about 3-8%. It's ok to only put 10-15% into retirement for you right now.</p><p></p><p>Second: Get into a good house for your present needs. A starter home is perfect. 90%+ of women will want to pick out their own home, so buying a "family" home isn't super important for you.</p><p></p><p>Third: 20% down is going to be about $100 a month per 100K borrowed cheaper on insurance for the lender (in case you default). That money is thrown away.</p><p></p><p>Fourth: in 5 years, if/when you move up in home your equity will move with you and you'll only have to save that 20% once.</p></blockquote><p></p>
[QUOTE="CoffeeStainedUniform, post: 3626924, member: 73423"] First: 19% going into retirement is awesome...but a little premature before you're in a house. Cut back the 401k to about 3-8%. It's ok to only put 10-15% into retirement for you right now. Second: Get into a good house for your present needs. A starter home is perfect. 90%+ of women will want to pick out their own home, so buying a "family" home isn't super important for you. Third: 20% down is going to be about $100 a month per 100K borrowed cheaper on insurance for the lender (in case you default). That money is thrown away. Fourth: in 5 years, if/when you move up in home your equity will move with you and you'll only have to save that 20% once. [/QUOTE]
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