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| Invest or use for down payment? |
debip |
04/03/06 |
I am buying a townhouse (on my own for the first time). I feel comfortable with a certain amount on the mortgage; i.e., cost 191,400-3,000 deposit - 188,400 - down payment $125,000 - mortgage approx. 64,000. Would it be smarter to take more of the down payment and invest it, and feel a ilttle more pressured each month. |
Clarification/Follow-up by paraclete on 04/03/06 6:38 pm:
I think that's a good equation you have there. I have no idea of your income so I cannot see the other side of the equation. They say you shouldn't have a mortgage that eats more that 25% of your income. With investing the question is what do you plan to invest in. It must return you more than the interest rate on your mortgage. If you are going to feel pressured that's not a good place to be, your investing should be from what you have available, or from a dedicated investment plan
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