Texas Proud
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 16, 2005
- Messages
- 17,313
To me a mortgage is just a way of buying a house...... I look at the opportunity costs of having a mortgage vs paying it off... and at my 4.5% I do not want to pay it off..
However, my old house was paid off and I did not see the point of mortgaging the house to get funds to invest. IOW, I am not going deeper into debt just to try and arbitrage the spread... that is also why I did not do it with the 0% credit cards like my BIL did....
So,to summarize, if I were going to buy a house today, I would get as much mortgage as I could TODAY and pay it off as long as I could... but I would not do the same with a house that was paid off... yes, doing the math it is the same, but to me they are different transactions...
However, my old house was paid off and I did not see the point of mortgaging the house to get funds to invest. IOW, I am not going deeper into debt just to try and arbitrage the spread... that is also why I did not do it with the 0% credit cards like my BIL did....
So,to summarize, if I were going to buy a house today, I would get as much mortgage as I could TODAY and pay it off as long as I could... but I would not do the same with a house that was paid off... yes, doing the math it is the same, but to me they are different transactions...