I am looking for advising on how to make down payment for new house. New house is worth around .35m and I will need to generate around 350k so that I can take loan of m( to get better rates). Options:
1. Take money from my bank accounts, investment accounts.
2. Take money from existing house where I have equity of around 0k.
3. do a hybrid i.e some money from bank accounts like 100k and rest as home equity line of credit.
Additional information :
1. Plan to sell my existing house immediately ( have around 250k remaining loan)
2. Have another condo investment that is negative case flow but it is in partnership with somebody else ( liability around 240k) on that.
3. Income level is around mid 200k
Can you please advice :
1. what is best model in this scenario ?
2. Which option should be best ?
3. Should I consider taking money from my 401k account ?