Hey all!
Considering buying my first house. Currently have about 6k saved, looking to buy somewhere in the 150-225k range, as I live in a medium-low cost of living are in the midwest. I'm concerned about rising interest rates in the near future and how much home prices in general have risen, so I am considering withdrawing from my 401k to make up the difference in what I would need for down payment/closing costs/other costs associated with buying.
Current income is 100k pretax. Just under 25k in the 401k.
Other debt is my vehicle payment at about 480/month and student loans which will be around another 500/mo once payments resume soon. Credit cards are paid off in full monthly, but I do have some black marks on my credit report from when I had a rough patch in 2016/17.
Edit - just changed employers a couple months ago, and still haven't rolled over my old 401k to my new employer's plan.
Submitted March 01, 2022 at 11:43PM by DOUBLEDANG3R https://ift.tt/rX3uHnp
