Re: O/T can it be done

Posted by Lincoln on January 11, 2007 at 15:59:20 from (64.12.116.74):

In Reply to: O/T can it be done posted by old on January 11, 2007 at 10:21:26:

He might be thinking like this:

Monthly payment on $70,000 loan @5.75% interest is $408.50 or $4902.00 per year.

$100,000 principal would only have to make 4.9% interest per year to cover the payments on the $70,000 loan.

I think as long as he can beat the 5.75% rate by investing his money else where he will come out ahead. He won't do it in a savings account or CD but it shoud be pretty easy and relatively safe in a mutual fund.

Also capital gains tax does not apply to your primary residence if you have lived there for at least 2 years.

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