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HokieMacDaddy

Joined: 12/05/2004 Posts: 12915
Likes: 2388


Question for you finance gurus


Selling my current house and buying another across the country. Do I:

- put 20% down on the new place to avoid PMI and keep the payment down, or put down less, make a lump sum payment of half the total PMI (an option my lender offers), and take a higher monthly payment but invest the difference
- get a 15-year fixed rate loan that will keep the monthly payment at the max I can afford but pay off the house quicker, or get a 30-year loan and invest the money I save each month (I assume here that the ROI is greater than the mortgage rate)
- rent for a year or two in anticipation of another housing market crash
- F it all and just go live in a van down by the river

Posted: 06/22/2018 at 09:59AM



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Current Thread:
 
  
Question for you finance gurus -- HokieMacDaddy 06/22/2018 09:59AM
  On the question of mortgage vs. investing -- Tafkam Hokie 06/22/2018 7:34PM
  My advice -- MrBayAreaHokie 06/22/2018 4:06PM
  That depends, which river would you be next to? -- HokieAl 06/22/2018 1:22PM
  Agree on the renting part -- VaTechie 06/22/2018 11:24AM
  How much do you know about area you are moving to -- bigbadbird 06/22/2018 10:27AM
  Nerdwallet has a good rent/buy calculator -- Hokie Bird 94 06/22/2018 10:09AM
  Do you anticipate moving out of this house at any point? -- hoosnowahokie 06/22/2018 10:04AM

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