The Motley Fool Discussion Boards
Personal Finances / Buying or Selling a Home
|Subject: Re: Get a mortgage or pay cash?||Date: 4/9/2013 1:46 PM|
|Author: Dwdonhoff||Number: 125076 of 127886|
I'm on vacation with limited online time, but I could have sworn we dove into your scenario here about 3-4 weeks ago, no?
Bottom line (apologies for the short answer);
Assuming you are responsible savers, versus habitual consumers (which your existing profile would suggest the former is true,) then;
FINANCIALLY you'll be far better off putting as little cash into the down payment/equity on your new home as you can (pending qualification & offer from the best loan options.)
Your long-term financial growth, and immediate and longterm financial security, will be best served by maximizing your liquid safe growth accounts, which will outperform the after-tax costs of your purchase financing.
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