An ongoing feature in Tuesday Tactics is our “Great Read Roundup” in which we highlight some of the best pieces we’ve read recently and why they might expand your mind or help with your real estate career.
How to Withdraw from Your 401k or IRA for the Down Payment on a House
(6 minute read)
Why it matters: Many new buyers don’t realize they can leverage their retirement account to help fund a down payment on their home. This piece from Money Crashers gives a solid overview of the different types of retirement plans and the rules regarding borrowing against and withdrawing funds to make a down payment. Share this one with your first-time buyers for sure!
Can You Explain Down Payments to Clients?
(5 minute read)
Why it matters: Given that down payment is cited as the biggest barrier for first-time buyers, you might want to tune up your understanding of the various assistance programs out there. In this piece from Rob Chrane, CEO of Down Payment Resource, get answers to questions such as “Where does the money come from? How do the programs work? Can my clients benefit?”
Buying a Home: Cash vs. Mortgage
(5 minute read)
Why it matters: Not all buyers are looking for loans. Some even have the liquidity to make cash offers outright. But does this make sense? This piece from Investopedia talks about the pros and cons of a cash versus mortgage purchase, and includes links to deeper dives into the benefits and drawbacks of both situations.
