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My goal 1 year from now.

if you dont set any goals you'll never have to be upset if you dont achieve them


but yea... go for it.. jsut got a house myself.. great thing to save money for..
 
I would also like to do something similar - I have about 1K a month left over bills and what not. I would like to know ballpark about what the down payment would be on a house around 135-150K - any ideas?
 
Originally posted by: Tea Bag
I would also like to do something similar - I have about 1K a month left over bills and what not. I would like to know ballpark about what the down payment would be on a house around 135-150K - any ideas?
Click to expand...

Same here. I've heard 10% - 20% to avoid PMI.
 
Originally posted by: FrustratedUser
Originally posted by: Tea Bag
I would also like to do something similar - I have about 1K a month left over bills and what not. I would like to know ballpark about what the down payment would be on a house around 135-150K - any ideas?
Click to expand...

Same here. I've heard 10% - 20% to avoid PMI.
Click to expand...

That's what I've been reading, but getting into it further - is it advisable to place your moneys into, say a Roth IRA and withdraw the money for the down payment, or just keep it in a savings account?? You're paying tax on it either way, but if you place it in somthing like a Roth IRA, you don't get hit twice come tax time - and that amount comes out tax-free. I'm getting a few conflicting opinions on the matter.
 
Originally posted by: Tea Bag
Originally posted by: FrustratedUser
Originally posted by: Tea Bag
I would also like to do something similar - I have about 1K a month left over bills and what not. I would like to know ballpark about what the down payment would be on a house around 135-150K - any ideas?
Click to expand...

Same here. I've heard 10% - 20% to avoid PMI.
Click to expand...

That's what I've been reading, but getting into it further - is it advisable to place your moneys into, say a Roth IRA and withdraw the money for the down payment, or just keep it in a savings account?? You're paying tax on it either way, but if you place it in somthing like a Roth IRA, you don't get hit twice come tax time - and that amount comes out tax-free. I'm getting a few conflicting opinions on the matter.
Click to expand...

I don't know. My goal is short term so it wouldn't make a big difference.
 
Originally posted by: FrustratedUser
Having $35k in the bank to be used for buying a house.
Click to expand...

What the hell do you do for a living? I wish I could save that $$ bling $$ a year! Thats my entire salary! haha
 
my goal is similar.

i'm trying to save $20K by next spring and put that as a downpayment on a house or a condo.
 
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