That said, the mortgage is a consistent, steady monthly payment, and obviously returns on the stock market can vary. We ended up sort of splitting the difference, put enough toward mortgage to get rid of our PMI and get a little better rate, then invested the rest. At the end of the day I say it's all about what makes you comfortable and lets you sleep easy at night.
will save allow me to cash flow about 10,000k a year; however, I need to put up 47k to close. Is it worth it to tie up that much cash?
It wasn't clear just what the tax implications would be but if you save that $10K a year then you would save up that 47K in less than five years so it would not really be tied up that long.
zebrafish wrote:In the lack of complete information, a 10K per year savings by putting up 47K seems a pretty good return on investment
It would probably even be better that, assuming he'd refinance to a much better rate that 6+%.
Who is online
Users browsing this forum: alexost, Barefoot, bsteiner, Calygos, cheeseroc, Dantes, Deb19, gclancer, heartwood, ImmigrantSaver, indexingfun, Jay Wiser, John Laurens, Kow, marklar13, mcraepat9, Morgan22, Morik, MSNbot Media, Spirit Rider, STINGRAY75, SuperMirage, Taylor Larimore, TLB and 131 guests