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Home Mortgage - Job Offer Letter?


Home Mortgage - Job Offer Letter?

Old 08-26-2018, 08:33 AM
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Joined APC: Mar 2014
Posts: 2,747

Originally Posted by CowboyPilot79 View Post
I think his point was you're losing out on the opportunity to invest that money and the trade off for interest savings is lower in the long run. Like I said before this has been a debate forever. We are Dave Ramsey types (I even teach classes!) so we tend toward the lower risk end of the spectrum but there are arguments on either side.

There's a pretty good podcast, ChooseFI, that does some good dialog on both sides of this argument as well (Episode 35). One place I'm opening my aperture a bit is on holding all our efund in cash and instead considering putting some of it in low risk investments (Episode 66/66R).

Another episode that really tackles the question of a paid off mortgage is Ep 68. Specifically in the Dave Ramsey lens. For us I think our plan will always be to have our primary residence paid off and stay away from a lifestyle revolving around debt. Seems weird given that my initial question here is about a mortgage, but like I said our plan is to have that for less than a year and to keep enough capital around we could pay it off immediately if we needed to start reducing exposure.

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I know you are all into the DR thing but keep in mind his advice is geared towards those who don't have self control. They will spend spend spend on any available credit card. He literally is talking to the very basic minded people that make up a good portion of the population. People who make average or below average incomes and buy new cars while living in a trailer, for example. Is that you? Or do you have a more complex grasp of finances?

In 2016 I took $360k slated for a home purchase and put it into the market, current value $780k. Interest during that time period might have been what, $20k? (Edit: I have now screwed myself by publicly posting gains!)

It's not really a debate, the numbers are the numbers, you will on average come out much further ahead by putting your money to work for you instead of it sitting idle in a home. Now that doesn't mean go out and buy some extravagant home with a jumbo mortgage, either, but it doesn't sound like you are.

Last edited by Name User; 08-26-2018 at 08:47 AM.
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