Going to look at a condo, need morgage guy or Joey

[fhmesq44]

Take a loan against your 401(k) or buy it with your IRA. You can self direct your IRA and buy it with that, or, you could take a loan against the 401(k) which would have to be paid back (to yourself) with interest over 5 years. This assumes you have either or both and have at least $40k in your 401(k).

 

[fhmesq44]

There are some limitations with self directed IRAs, but if all you do is rent this out you should qualify. You won't ever be able to live in it though and any proceeds of sale/refinance/rent would go to your IRA, not your own pocket.

 

[FeelTheTruth]

No such thing as no doc loans anymore.

as of when?

I was on the verge of doing one in 2005 but backed out when I couldnt get a better interest rate

 

[3peet]

as of when?

I was on the verge of doing one in 2005 but backed out when I couldnt get a better interest rate

Uh....its 2009 now.:missingte

 

[FeelTheTruth]

Uh....its 2009 now.:missingte

which is why I asked as of when. You're swift.

 

[TheRightSide]

Well fuck.

It was sold before I could even get in to see it. I knew I should have just wired the money. I just wanted to see it and make sure it wasn't trashed.