no down payment mortgages
Mar 12, 2009
Large down payment and small mortgage or money in savings and interest helping pay high mortgage?
I just sold my home and have a large proffitt. My question is wheither it makes sense to put most of the money into a new house and have a small monthly mortgage payment or is there a way to invest the money and use the interest to pay the mortgage?
Thanks
The answer is simple. See what interest rate you get on the mortgage. It should be in the 6’s. If you believe you make a return on your investment of greater than your interest rate, you invest the money.
One other reason to take the mortgage is the tax deduction.
USDA No Down Payment – No Mortgage Insurance Home Loan
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Categories: Refinancing Home Mortgage | Tagged: downpayment, economics, hr600, maplight.org, no down payment mortgages canada, no down payment mortgages in canada, realestate |
