Thinking of moving from DC to somewhere new and cheaper, maybe the research triangle. We'd sell our home (est sale: 800k, remaining mortgage 490k). Our take away from the sale will likely be around 240k.
Homes that we're looking at in the new location are ~550k, and we're now trying to think about how to square downpayment costs with what else that money could be doing for us. At a 550k purchase price, we'd still have ~115k above 20% down (and cost of moving).
Should we put more down? Try to leverage a >20% down payment to get lower interest (how much lower is common in that scenario, and is there a threshold there - 25% 30%?)
Or invest the rest and invest earnings in future payments against principle? Some other way to think about this opportunity?
Submitted June 17, 2017 at 03:03PM by districthop http://ift.tt/2rCREoK
