We are moving and will be buying a new house before selling our current house (1-2 months overalp). We have about 450k in equity in our current home and 250k in savings. We really do not want to take out a large mortgage considering the current rates. Targeting a house in the 750k-1M range.
We were planning to put down 200k towards the house (50k left for EF), and then do a mortgage recast with the equity of our sale a few months later (650k total towards new home after recast).
More recently we began considering selling 200k worth of VTSAX in our brokerage. We have about 30k harvested from previous losses which would soften the federal capital gains (but not the State capital gains).
This strategy would essentially bring our mortgage down to almost zero (or zero, depending on cost of house).
Is this advisable, or should we avoid selling any portion of of our brokerage and just take out the higher mortgage?
We do have a healthy work retirement plan and would be left with about 650k in our brokerage if we sold 200k worth of stocks
We were planning to put down 200k towards the house (50k left for EF), and then do a mortgage recast with the equity of our sale a few months later (650k total towards new home after recast).
More recently we began considering selling 200k worth of VTSAX in our brokerage. We have about 30k harvested from previous losses which would soften the federal capital gains (but not the State capital gains).
This strategy would essentially bring our mortgage down to almost zero (or zero, depending on cost of house).
Is this advisable, or should we avoid selling any portion of of our brokerage and just take out the higher mortgage?
We do have a healthy work retirement plan and would be left with about 650k in our brokerage if we sold 200k worth of stocks
Statistics: Posted by Owlette678 — Fri May 17, 2024 10:55 pm — Replies 0 — Views 68