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#2
10-12-2007, 10:14 PM
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Re: Is there any disadvantage to buying a house outright?
[ QUOTE ]
However you would save money on rent/mortgage payments, say 1500 a month, 18K a year. So now the difference is around 6K a year on that 300K (2% loss on that money). On top of that you would save 5-6% a year on interest charges on any mortgage you would have had. [/ QUOTE ] you can't compare it to a situation where you pay both rent and interest on a mortgage. if you rent you don't have a mortgage. 
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