Quote:
Originally Posted by manaboutown
I think needing to pay around 8% interest on a 30 year mortgage has a greater effect on whether people can afford to buy a home than a 5% deviation in price, up or down.
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So financial strategy anywhere a rate is above 4.5%, take out the largest mortgage institution will give you, putting minimum down.
After first mortgage payment applied, pay down mortgage by 20 to 70%. Amortization of payment next 30 days, interest is minimal.
Just remember if you need write off, speak with your finance guy, as too how much cash to pay down. So 8% is only ugly if one doesn’t have savings, or investments