Sounds like a really bad financial plan to me but that's just my $0.02.
Very neat avatar, great history
What makes it sound bad to you?
I just believe that the ONLY reason you should take money out of a retirement fund is that you retired. If you have to take funds from your retirement for a down payment then you cannot afford it. I would never take from retirement to go into debt. If you want to take a mortgage then have at least a 20% down to avoid PMI and get a 15 fixed mortgage with 0 points and 0 origination fees.
Second, I feel that buying single stocks are a big mistake. I would rather diversify in mutual funds with long track records than have a handful of single stocks.
These are just my financial beliefs. I know not everyone shares them so if that plan is for you then I hope you can find the perfect home because it is a great buyers market right now.
I just believe that the ONLY reason you should take money out of a retirement fund is that you retired. If you have to take funds from your retirement for a down payment then you cannot afford it. I would never take from retirement to go into debt. If you want to take a mortgage then have at least a 20% down to avoid PMI and get a 15 fixed mortgage with 0 points and 0 origination fees.
Second, I feel that buying single stocks are a big mistake. I would rather diversify in mutual funds with long track records than have a handful of single stocks.
These are just my financial beliefs. I know not everyone shares them so if that plan is for you then I hope you can find the perfect home because it is a great buyers market right now.
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