My wife and I have been looking to upgrade homes here in the next couple of years. We just came upon a windfall of cash and would like to use that to buy a larger house than what we were previously looking at.
Prior to the windfall, we were hoping to keep our monthly payments under $3k as that's where we feel comfortable. The question we're facing is if it makes sense to use the windfall $ to put down a larger down payment on a more expensive house to keep the monthly payments to $3k OR pay ~$3.7k a month at 20% down and invest the windfall $?
With interest rates so low my thought is we could invest that $ and then draw from it to help with monthly payments when we need it. Thoughts?
Submitted June 08, 2020 at 08:13PM by Zookids0001 https://ift.tt/3eXXnto
