Re: BBV in MTT - Closed On a House Today (Totally Not Even Close to OT
Paying cash for a house is not very smart...1st of all all the interest is tax deductable (talking in the US obv..no idea for Canada)...since you will obv be paying some taxes the interest is "free" money...you can earn 10% on your money in the market fairly easy. So assume 10% return and 6% interest rate on loan and you are throwing away $80,000 per year on a $500,000 house....
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