There is no credit score except your FICO score. You got an imitation score. If you're serious buy your FICO.
15 year fixed is for poeple who believe that interest rates will not go up in 15 years. Snippy isn't one of them. If you are, put all your 401k money towards the house.
Won't you pheel like quite the phool when you pay it ophph and the interest rates are back at 6 or 12 %?
Snippy's credit score is over 900. Of course, that's phake too.
If you want to save all that schitt, pick a creidit union that does firsts and get pre-approved for you house buy.
Snippy is truly typing with gloves on....
-- Edited by Snippy on Sunday 10th of June 2012 10:15:39 AM
Snippy said
3:44 PM, 06/10/12
Uke believes interest rates are coming down. Nothing says dumbass like a retired single guy immediately paying accrued taxes on a 401k to put all his cash in an illiquid asset.
(Except, possibly when carrying debt on that illiquid asset is one of the last remaining tax favored transactions left.)
-- Edited by Snippy on Sunday 10th of June 2012 03:47:16 PM
Uke said
4:38 PM, 06/10/12
Last time I had mine done, by the "Big Three" reporting outfits, Equifax, Ezperian, and Trans Union, was in Oct., 2010. my numbers showed 780, 781, and 781.
Pretty good I'm told. But now that I've pulled the pin from 2LARRCO, would it be wise ta have the thing done again? Just in case the 'house' buy thing happens.
Might just pull the 401-K money and use some towards a down payment, and try for low(er) interest mortgage...like 15-year fixed.
Anybody else have their credit reports/numbers done recently?
Cy Valley said
5:09 PM, 06/10/12
Grade A, Uke, no problems after retirement. You've got that pension check that'll start coming and should be good to go. It's not like you've got to worry or be concerned anymore about what Uncle Warren might do to you.
But, what about that 2013 vacation?
Uke said
5:51 PM, 06/10/12
Not concerned about anything from 2LARRCO, or my priors... Crdit score IS old news tu. Thinkin' exactly what Snippy sez concerning the 401-K bux...
(Holy shit...sirens... Lotsa emergency vehicles nearby... Gotta check the yard out back!)
Yep 401-K has now been shifted inta cash, and long term bonds. Closed all stock mutual funds. That'll be the bux towards the future house.
Credit unions...only a few in Umatilla County. But that can wait a bit...
Thanks Cy and Snippy for the answers!
Freddie Krueger said
6:57 PM, 06/10/12
Uke gawd damnit, USAA is a credit union which you already get your insurance from... You don't need it next door to you either.
Snippy said
7:20 PM, 06/10/12
.
Uke said
8:54 PM, 06/10/12
Snippy's patented magic disappearing ink has gone away before Uke had time ta read! Schitt!
Freddie Krueger said
9:33 PM, 06/10/12
USAA is in San Antonio Texas, and I don't need to go visit them. It's called an ATM card if I need cash. USAA reimburses me if the machine charges a fee. Everything else is direct deposited to them. I pay the bills by computer. I think I wrote three checks this year.
They write first mortgages and insure the house tu.
Phuk banks. I hate them more than you hate Starbucks or Budweiser.... '
Freddie Krueger said
10:50 PM, 06/10/12
Put the 10% down Uke, and pay the cheap rate on the mortgage. Get the 30 year one. Yes, more than likely you won't live that long, but who cares????? Who ever you leave the house to, will sell it to cover the remainder.
In other words, do what the rich people do.
Uke said
4:14 AM, 06/11/12
Can't really do a damn thing yet... Already stopped contributions ta the 401-K when I retired. Now anything else will be dividends, or interest on... And since I'm NOT rich, taxable income is a matter of speculation...
Sure I'd like ta have a house. Some day. Maybe. Gonna hafta rethink all my plans.
Freddie Krueger said
7:13 AM, 06/11/12
Just don't tap that 401k to get a big nut on a house. You will get killed on the taxes. Cheap money for a 30 yr mortgage, with easy living.
Snippy said
7:13 AM, 06/11/12
.
Snippy said
7:55 AM, 06/11/12
Uke wrote:
Already stopped contributions ta the 401-K when I retired.
Now anything else will be dividends, or interest on...
And since I'm NOT rich, taxable income is a matter of speculation...
Gonna hafta rethink all my plans.
No shit?
Interest received will be close to nil.
Taxation of a 401k withdrawl is not speculation. (Unless you have a very rare Roth 401k. Or, this is your first ever home purchase? Does your 401k allow loans? Have you rolled it over into an IRA yet?) You have another five or six years before you are forced to withdraw any money.
Why? Even if your credit reporting agency score isn't the real FICO score, you have good credit. Get a down payment of something between VA loan ($0) and 20% together. Snippy likes 20% to make PMI go away. YMMV with a VA loan. Get pre-approved. USAA poeple are pros at this shit. Go take advantage of this buyer's market.
Uke said
8:32 AM, 06/11/12
Gonna let it ride...until I have an absolutely, certain, 100% sure bet on THE house! It is with Vanguard, who 2LARRCO placed all scheduled folks' 401-Ks after we merged. Prior...BN's folks were with T. Rowe Price.
Note: I still own shares of T. Rowe. Bought after opening the 401-K, at the advice of former housemate BB who was, in a former life, a broker. Her advice? If ya do bidness wid 'em...own 'em! They've never stopped growing, splitting, paying dividends.
I have a 'small' Roth as well. With my broker Scotrade. My portfolio is there...downtown Seattle, a bus trip away.
-- Edited by Uke on Monday 11th of June 2012 05:18:09 PM
There is no credit score except your FICO score. You got an imitation score. If you're serious buy your FICO.
15 year fixed is for poeple who believe that interest rates will not go up in 15 years. Snippy isn't one of them. If you are, put all your 401k money towards the house.
Won't you pheel like quite the phool when you pay it ophph and the interest rates are back at 6 or 12 %?
Snippy's credit score is over 900. Of course, that's phake too.
If you want to save all that schitt, pick a creidit union that does firsts and get pre-approved for you house buy.
Snippy is truly typing with gloves on....
-- Edited by Snippy on Sunday 10th of June 2012 10:15:39 AM
Uke believes interest rates are coming down. Nothing says dumbass like a retired single guy immediately paying accrued taxes on a 401k to put all his cash in an illiquid asset.
(Except, possibly when carrying debt on that illiquid asset is one of the last remaining tax favored transactions left.)
-- Edited by Snippy on Sunday 10th of June 2012 03:47:16 PM
Last time I had mine done, by the "Big Three" reporting outfits, Equifax, Ezperian, and Trans Union, was in Oct., 2010. my numbers showed 780, 781, and 781.
Pretty good I'm told. But now that I've pulled the pin from 2LARRCO, would it be wise ta have the thing done again? Just in case the 'house' buy thing happens.
Might just pull the 401-K money and use some towards a down payment, and try for low(er) interest mortgage...like 15-year fixed.
Anybody else have their credit reports/numbers done recently?
But, what about that 2013 vacation?
(Holy shit...sirens... Lotsa emergency vehicles nearby... Gotta check the yard out back!)
Yep 401-K has now been shifted inta cash, and long term bonds. Closed all stock mutual funds. That'll be the bux towards the future house.
Credit unions...only a few in Umatilla County. But that can wait a bit...
Thanks Cy and Snippy for the answers!
.
They write first mortgages and insure the house tu.
Phuk banks. I hate them more than you hate Starbucks or Budweiser....
'
In other words, do what the rich people do.
Sure I'd like ta have a house. Some day. Maybe. Gonna hafta rethink all my plans.
.
Gonna let it ride...until I have an absolutely, certain, 100% sure bet on THE house! It is with Vanguard, who 2LARRCO placed all scheduled folks' 401-Ks after we merged. Prior...BN's folks were with T. Rowe Price.
Note: I still own shares of T. Rowe. Bought after opening the 401-K, at the advice of former housemate BB who was, in a former life, a broker. Her advice? If ya do bidness wid 'em...own 'em! They've never stopped growing, splitting, paying dividends.
I have a 'small' Roth as well. With my broker Scotrade. My portfolio is there...downtown Seattle, a bus trip away.
-- Edited by Uke on Monday 11th of June 2012 05:18:09 PM