Hello,
Could you please share the pros and cons of doing a significant mortgage downpayment (40-50%) by selling stocks versus doing 20% down and not touching the stocks, in today's time when interest rates are 7%.
Keeping the downpayment low helps if in future the rates go down and one can refinance. However, until that point, 7% interest needs to be still paid.
On the other hand, if a larger downpayment is done, is there a way to still benefit from the possible future reduction of interest rates ? E.g., by doing a HELOC (or something along those lines) if & when interest rates fall ?
Appreciate your inputs.
Could you please share the pros and cons of doing a significant mortgage downpayment (40-50%) by selling stocks versus doing 20% down and not touching the stocks, in today's time when interest rates are 7%.
Keeping the downpayment low helps if in future the rates go down and one can refinance. However, until that point, 7% interest needs to be still paid.
On the other hand, if a larger downpayment is done, is there a way to still benefit from the possible future reduction of interest rates ? E.g., by doing a HELOC (or something along those lines) if & when interest rates fall ?
Appreciate your inputs.
Statistics: Posted by esipsi — Thu May 30, 2024 1:15 am — Replies 0 — Views 36