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Spinoff Poll: Source of Funds to Buy First Home ?
Spinoff to the "how old were you" - how many of you were able to buy into a home based on savings, downpayment or money from family, etc..(also applies if you either got a mortgage or bought a home with cash for full price).
Choice 4 : 'Combo of 1/2/3' applies in situations of say...you withdrew 401K for 10% down and parents kicked in another 10% at closing, etc).
ETA: for DH, he saved up $$ and also withdrew from his investment portfolio (he owned home prior to meeting me), he put down almost 65% at closing. Me: I bought a condo w/ only 5% down at the time and financed the rest on a 30 yr fixed low interest rate loan.
Message edited 5/5/2011 12:27:37 PM.
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Posted 5/5/11 11:45 AM  |
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CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
I chose other. We started a house fund and saved.
We did not take money from 401K or other exisiting savings.
ETA: I forgot, we each received 5K from work for a first time home purchase. Nice little perk that gave us an extra 10K. They no longer offer it, but we got it when it existed.
Message edited 5/5/2011 12:04:59 PM.
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| Posted 5/5/11 12:03 PM |
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bea559
LIF Toddler
Member since 11/10 457 total posts
Name:
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
We are relying on savings/wedding fund.
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| Posted 5/5/11 12:05 PM |
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MarsB
LIF Adult
Member since 11/10 1456 total posts
Name:
Martha
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
We used money from our wedding gifts to put 3.5% down.
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| Posted 5/5/11 12:07 PM |
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memi7206
LIF Adult
Member since 3/11 2355 total posts
Name:
Due Dec 29th!!!!!
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
Savings and wedding money. It was about 50/50, 15% down.
Message edited 5/5/2011 12:08:23 PM.
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| Posted 5/5/11 12:07 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
Saved for many years. Just kept socking it away.
I'm still amazed that we were able to do it.
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| Posted 5/5/11 12:08 PM |
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Ma-n-Pa2008
Mommy's Big Boy
Member since 3/09 2584 total posts
Name:
Melissa
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
savings/wedding fund and we borrowed the rest from my mom's home equity loan
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| Posted 5/5/11 12:14 PM |
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JennyPenny
?
Member since 1/08 12702 total posts
Name:
Jen
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
We are using a combo of wedding money, an inheritance and a gift from my parents. Putting a total of 25% down.
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| Posted 5/5/11 12:22 PM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
we put 50% down. combo savings and money awarded from a wrongful death suit.
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| Posted 5/5/11 12:24 PM |
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BethanyLynn
Love these munchkins
Member since 10/09 6295 total posts
Name:
Bethany
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
20% down- combo of savings, annuity withdrawl ( complete with tax ramifications  ) and family loan/gift
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| Posted 5/5/11 12:27 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
20% from savings
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| Posted 5/5/11 1:43 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
Some from wedding gifts.
Rest from money saved by my parents when I was growing up.
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| Posted 5/5/11 1:52 PM |
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wanttobeamom
LIF Adult
Member since 5/09 2448 total posts
Name:
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
living with my parents to save the money for a down payment. It's killing me b/c I am super anal and my parents love clutter. 
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| Posted 5/5/11 2:16 PM |
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browneyes
All moms are working mothers!
Member since 8/08 4311 total posts
Name:
Super Mom
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
we saved a little and used the money recieved from our wedding.
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| Posted 5/5/11 2:43 PM |
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MockingJay
Ring out the old...
Member since 9/08 1312 total posts
Name:
Ring in the new!
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
We're saving every dollar we can, but if we can't get a sellers concession for closing, I'm gonna have to take a loan against my 401k
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| Posted 5/5/11 2:50 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
Posted by MarsB
We used money from our wedding gifts to put 3.5% down.
Same here
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| Posted 5/5/11 2:58 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
savings
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| Posted 5/5/11 3:15 PM |
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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
We saved most, borrowed from our 401k and put the money back in the 401k as soon as we got the $8000 tax credit back. No fees or anything.
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| Posted 5/5/11 4:25 PM |
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bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
savings.. ate ramen noodles and never turned down an invite to eat at the parents house! lol
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| Posted 5/5/11 4:36 PM |
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marieSand
Hello LIF!!!
Member since 8/10 1224 total posts
Name:
marie
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
savings/wedding fund. . . . . still saving.
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| Posted 5/5/11 4:49 PM |
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have2hide
LIF Adolescent
Member since 1/11 555 total posts
Name:
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
Saved for a zillion years 
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| Posted 5/5/11 4:51 PM |
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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
401k withdrawl and mortgage
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| Posted 5/5/11 4:53 PM |
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PrettyPeonies
GAW my baby boy <3
Member since 8/10 3874 total posts
Name:
Pino
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
Savings & Family
We currently are in MAJOR saving mode again b/c we want to get rid of the PMI payment. Once we do that, our mortgage will about 1/2 it is now.
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| Posted 5/5/11 4:57 PM |
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BsMomma2014
Fly high little one
Member since 6/10 2662 total posts
Name:
nicole
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
It is a combo of savings and wedding fund....we are putting down 20%
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| Posted 5/5/11 7:49 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Spinoff Poll: Source of Funds to Buy First Home ?
We saved our own money and paid for it ourselves. We did not borrow from our 401ks, parents, or anyone else.
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| Posted 5/5/11 7:55 PM |
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