No. of Recommendations: 0
Mortgage interest rate - 3.5%
Investment returns - 7%

That's everything you need to know. Your only issue is being sure you can make the monthly payments.

Agree with Ray. In theory.
The fly in the ointment would be finding investments that guarantee 7% return. I will even settle for long-term 7% return with large fluctuations (as happens with stocks.)
And the 7% should be within a reasonable horizon. Don't give me 80-year histories - I don't plan to invest for 80 years! Rolling 10-15 years history max.
And add to that the high valuation of stocks today.
So it's not black-and-white. Still, 3.5% (with possible tax breaks) sounds like a low hurdle that specific stocks (Berkshire Hathaway) or even a broad fund, even starting now, should beat. But don't get hung up on 7%. 5%, maybe?
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