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I have a question concerning down payments.

We will be selling our current home in about 6 months. We have around $35,000 equity in the home. My question is, should we put most of this toward the down payment on our new home or invest the $35K and make a smaller down payment?

If we invest $30K and have an average CAGR of 12% in 20 years we would have $ 286,804.96. If I put $30K down as a down payment I would only be saving around $30,000 in interest that I would be paying over 20 years on a mortgage @ 8%. So, by my calculations we could make $250,000 by not paying a large down payment.

Are my calculations correct? What am I missing?

Thanks

Greg
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