How are you saving for a home downpayment? Share in the comments below! Thanks for tuning in!

Great Videos, Bola...... I'm glad my house is paid off! I just wrote the check for the last payment last week....... I have a quick question how old were you when you transitioned to being fulltime entrepreneur? You are really a great example for others

@e.mtucker6366

2 жыл бұрын

Congratulations NKO!

@Clauds71

2 жыл бұрын

Wow, well done 👍😄

Using money from TSP (Federal govt retirement savings vehicle) worked for me. I’m so grateful I had it. I used the loan option plus I received a grant. The equity in my house is almost at 100k. I live in the DC area and purchased 5 years ago. I absolutely would not be able to purchase my current home now in today’s market. The housing market here is crazy! People are doing CASH purchases of 400k$ and up on homes. I purchased for a little over 400k and a neighbor just sold theirs for 522k. I’ve paid off the loan and raised my contribution. But there’s no way I would’ve earned a 100k in my TSP in the 5 years I purchased my home. Plus, I have tax right offs being a homeowner. To your point, planning, equity, and location plays a huge part - choose wisely.

Thank for the breakdown about have to buy taxes borrowing from your 401!! I would rather save my 401k so I can retire on time. I do have a separate IRA I was thinking about using for downpayment, but I do want to use that to buy titles deeds to get into the real estate business.

@Clevergirlfinance

2 жыл бұрын

Thanks for tuning in!

@whatsappme--5759

2 жыл бұрын

ᴛʜᴀɴᴋs ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ sᴇɴᴅ ᴀ ᴅɪʀᴇᴄᴛ ᴍsɢ ʀɪɢʜᴛ ᴀᴡᴀʏ 📲👆🏻

I’m so glad God answered my prayer and KZread suggested this channel. I was looking for precisely that!

@Clevergirlfinance

2 жыл бұрын

Woo hooo thankful you found us!

@whatsappme--5759

2 жыл бұрын

ᴛʜᴀɴᴋs ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ sᴇɴᴅ ᴀ ᴅɪʀᴇᴄᴛ ᴍsɢ ʀɪɢʜᴛ ᴀᴡᴀʏ 📲👆🏻

Thanks for all the education.

Don't. Have a sinking fund for buying a house.401k is retirement.not house fund. Along with that,an emergency fund is not for credit card bills.

@Clevergirlfinance

2 жыл бұрын

Exactly

@whatsappme--5759

2 жыл бұрын

ᴛʜᴀɴᴋs ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ sᴇɴᴅ ᴀ ᴅɪʀᴇᴄᴛ ᴍsɢ ʀɪɢʜᴛ ᴀᴡᴀʏ 📲👆🏻

GREAT VIDEO !!! I was debating doing a 401k withdrawal but after watching your video my current plan is to temporarily move back into my parents place and save for my House Downpayment. Thanks for this informative Video.

I absolutely LOVE your bracelet! It’s stunning!

@Clevergirlfinance

2 жыл бұрын

Thank you! ❤️🥰

@whatsappme--5759

2 жыл бұрын

ᴛʜᴀɴᴋs ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ sᴇɴᴅ ᴀ ᴅɪʀᴇᴄᴛ ᴍsɢ ʀɪɢʜᴛ ᴀᴡᴀʏ 📲👆🏻

Automating savings & investing to get to my down payment number.

@Clevergirlfinance

2 жыл бұрын

Love it!!

@whatsappme--5759

2 жыл бұрын

ᴛʜᴀɴᴋs ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ sᴇɴᴅ ᴀ ᴅɪʀᴇᴄᴛ ᴍsɢ ʀɪɢʜᴛ ᴀᴡᴀʏ 📲👆🏻

Can you use your 401K for an investment property? Perhaps to buy and fix up for resale or refinance.

Thanks Bola 👍 I’m saving for my deposit and it’s loooong 😂

@Clevergirlfinance

2 жыл бұрын

You can do it!!!!!!!

Can you talk about or direct me to content concerning having a down payment AND emergency fund? I only have one significant saving fund but if I use all of that my emergency fund is well under 1,000.

@Clevergirlfinance

2 жыл бұрын

Absolutely! If you stop by Clevergirlfinance.com/blog and search “down payment” our articles will come up!

@whatsappme--5759

2 жыл бұрын

ᴛʜᴀɴᴋs ғᴏʀ ᴡᴀᴛᴄʜɪɴɢ sᴇɴᴅ ᴀ ᴅɪʀᴇᴄᴛ ᴍsɢ ʀɪɢʜᴛ ᴀᴡᴀʏ 📲👆🏻

Guess i am saving now haha

If 401k wthdral after 60 buying house so u pay taxtor pennlty

Great information. What are your thoughts about leveraging a whole life insurance policy to use as a savings vehicle for home down payment?