Question : should I pay cash or get loan for new house? Any tax advantage of getting loan?
I am a first time home buyer. I have $140K in cash for my house. Should I get loan at 6%?Currently I am earning 5% with my CD. My tax bracket is 25% and property tax here is $2500/year. Is there any tax benefits if I get loan?
- asked by __HELLO__
All Answers:
Answer #1
i think if you set down with the person you haveprepared your taxes in the past he will tell youthat money wise you would be better off payingcash --- only hang up i have with paying cash isthe the house you are going to live in for a longtime if so go for it but if you are planning onreselling in two of three years i would not wantall of my money tied up in the house!!!
- answered by mister ed
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