Quote:
Originally Posted by joey2665
Paying cash for a home right now with rates as low as they are is really financially foolish. If you have enough to pay cash, I’m not saying to get am 80% mortgage but consider 50-60% down and invest the rest. You will end up making money on the mortgage.
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In my neighborhood, we have resales as well as new homes being built every day. The realtors say that over 70% of the new sales are paid in cash. They said that if you can pay in cash you have an advantage over those who are looking for a mortgage approval or any other contingencies. Buyers who are using cash are waiving everything else so they can have a fast sale.