m*******d
发帖数: 274 | 1 We might want to buy a small house with cash, but we are in short of 30K
cash. Is it hard to get a loan of 30k? We are also thinking of balance
transfer from credit card. my citi card offer 0 APR for a year, 5%
transaction fee, with 10K limit. I still need to apply other credit cards to
get 20K more, do you have any good credit cards to recommend for balance
transfer? Or it is easier to get a loan of 30K. Thank you. | f*****n
发帖数: 44 | 2 try 401K loan?
to
【在 m*******d 的大作中提到】
: We might want to buy a small house with cash, but we are in short of 30K
: cash. Is it hard to get a loan of 30k? We are also thinking of balance
: transfer from credit card. my citi card offer 0 APR for a year, 5%
: transaction fee, with 10K limit. I still need to apply other credit cards to
: get 20K more, do you have any good credit cards to recommend for balance
: transfer? Or it is easier to get a loan of 30K. Thank you.
| t**********r
发帖数: 2153 | | b*d
发帖数: 9308 | 4 不要去做0%APR transfer,一个是会降低你的信用分数,另外会让你的Debt增加.
to
【在 m*******d 的大作中提到】
: We might want to buy a small house with cash, but we are in short of 30K
: cash. Is it hard to get a loan of 30k? We are also thinking of balance
: transfer from credit card. my citi card offer 0 APR for a year, 5%
: transaction fee, with 10K limit. I still need to apply other credit cards to
: get 20K more, do you have any good credit cards to recommend for balance
: transfer? Or it is easier to get a loan of 30K. Thank you.
| k******o
发帖数: 3328 | 5 If this is cash offer, no one cares about DIT or FICO any more.
As suggested, either borrow from your friend with reasonable low rate, or
borrow from yourself (i.e. 401k).
to
【在 m*******d 的大作中提到】
: We might want to buy a small house with cash, but we are in short of 30K
: cash. Is it hard to get a loan of 30k? We are also thinking of balance
: transfer from credit card. my citi card offer 0 APR for a year, 5%
: transaction fee, with 10K limit. I still need to apply other credit cards to
: get 20K more, do you have any good credit cards to recommend for balance
: transfer? Or it is easier to get a loan of 30K. Thank you.
| a****g
发帖数: 3027 | 6 I am considering something similar. No loan agents would even bother to
prepare a pre-approval letter for you with 30K loan amount: they can not nor
bank can much money.
borrow from 401K is the best choice. and then try to pay back as soon as
possible later by salary or a loan from a private party. | m*******d
发帖数: 274 | 7 Thanks for all the reply. I thought there is some penalty to get 401K money
out earlier, do I pay need to pay tax and pentalty?
nor
【在 a****g 的大作中提到】
: I am considering something similar. No loan agents would even bother to
: prepare a pre-approval letter for you with 30K loan amount: they can not nor
: bank can much money.
: borrow from 401K is the best choice. and then try to pay back as soon as
: possible later by salary or a loan from a private party.
| b*d
发帖数: 9308 | 8 If you want to get a loan, then there is no penalty.
money
【在 m*******d 的大作中提到】
: Thanks for all the reply. I thought there is some penalty to get 401K money
: out earlier, do I pay need to pay tax and pentalty?
:
: nor
| g*****k
发帖数: 1669 | 9 it' not a withdrawl, but a loan. so no penalty.
money
【在 m*******d 的大作中提到】
: Thanks for all the reply. I thought there is some penalty to get 401K money
: out earlier, do I pay need to pay tax and pentalty?
:
: nor
| a****g
发帖数: 3027 | 10 no penalty nor tax.
However, if you are laid off, and also can not repay the remaining loan
balance within a grace period (typically 60 days, but check with HR/the fund
management), then it is considered a withdraw, then you will incur 10%
penalty and tax.
For example, if you still owe 10K at the time of layoff, then you will be
reported to have 9K income (after 10% penality), and be taxed on the income.
However, if you plan well, sometimes early withdraw from 401K actually can
save you tax. For example, if for the next year you want to take one year
off, and get about 20K from 401K (no other income for the family), you will
end up paying about 10% penalty, and very little federal tax or state tax.
money
【在 m*******d 的大作中提到】
: Thanks for all the reply. I thought there is some penalty to get 401K money
: out earlier, do I pay need to pay tax and pentalty?
:
: nor
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