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re: Getting a Mortgage on a 2nd Home (Hints, Advice, etc?)
Posted on 6/18/21 at 9:32 am to soccerfüt
Posted on 6/18/21 at 9:32 am to soccerfüt
quote:Really depends on what you want to do and how the numbers play out for you after taxes.
I can lend the money to myself but don’t want to diminish my current return from my investment funds. I’ve got a local firm handling my investments that will work with me any way possible & reasonable.
With the home as a portfolio asset, interest payments as cap losses lower investment tax exposure. Depending on your bracket, and locale, that can be significant.
Also you can minimize downpayment and/or payment toward principal. No downpayment/smaller monthly notes/no PMI ... run the numbers vs cost of a traditional mortgage and decide.
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