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Retirement Discussions / Retired Fools
|Subject: financing||Date: 5/12/2003 11:00 AM|
|Author: mhtyler||Number: 8427 of 19638|
Question for retirees. As an early retiree, I'm thinking of buying a new house towards the end of next year. I prefer not to pay cash, and I can borrow from my margin account at the rate of 4.75%. My goal would be to pay off in 5 years or less.
Should I borrow from my own margin account where the rate could go up, or should I finance 15 or 30 years and find a loan that allows payahead.
The kicker here is that I've never tried to buy a house without a job before and I've no idea what the criteria is for a retiree.
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