/biz/ - Business & Finance

Mortgage. The interest payment is a tax write off and chances are you will make more money with it in crypto. Also you still get the value appreciation

You should get a mortgage while rates are at rock bottom. It's basically a free loan at this point.

>>28796273
>paying cash in a market with historically low interest rates
you could make higher gains than your mortgage rate by just putting the cash in the most conservative of index funds out there right now

My plan is to generate enough gains to have a guaranteed 60-80k salary off of dividends or interest via blockfi so that I just pay mortgage with the interest and don't have to let the eternal shekelberg lay a single finger on my bitcoin, eth or stinkies.

>>28796419
>>28796447

These are valid and i agree with them, but there’s also something to be said for owning it outright, especially if you get sick, lose your job, etc. I personally did 50% down and then paid it off fast after that.

>>28796419
Wrong. Only a small percent of the interest is a write off. And its not much per year.
>>28796273
The interest of 2-3% over a 30 year fixed basically doubles your purchase price. Its not 2% of the sale cost. Its 2% of the debt EVERY month. Always buy a home cash, unless you have renters eating the interest. But to be fair, even then its usually better to buy cash.

How do you get a mortgage if you don't have a job, you just make money from capital gains and you just have a lot of cash?

Personally I’d pay cash if I could. Second option would be put a ton of cash down to have as small of a mortgage payment as possible.

OP do not pay cash. People are currently pricing out other buyers, offering thousands and thousands above your offer. Take advantage of the historically low interest rates.

>>28796419
>>28796447
this, just closed on a house at 1.9% interest. My net worth will basically be increasing by $12-15k~ per year no matter what happens. Rates are so low right now, but minimum down payment requirements are pretty high, but if you can afford it, you probably won't get a "better deal" on a mortgage than you will right now.

Also, there's lots of people trying to panic sell their houses right now, so you can get some good under-market value deals (as most can't afford to put 15% down on a house right now)

>>28796273
cash like a real nigga

>>28796273
pay cash if you want to manage your risk
get a mortgage if you're feeling lucky
Anons are right you COULD make a buttload of money off crypto with that money instead.
BUT we could also be in a housing bubble if things crash all of a sudden you'll be underwater on your mortgage

>>28796657

Nope they dont care how much money you have. Its all a out income. I had the amount of cash in my bank account that I wanted for the mortgage and they still wouldn’t give it to me because of the rules.

>>28796763
>BUT we could also be in a housing bubble if things crash all of a sudden you'll be underwater on your mortgage
Ya but that will last for 2-5 years at most and then most likely return to normal. The people who will get fucked are those with variable interest loans who have their rates jacked up, or have no jobs/income and have to capitulate at a loss. If you can ACTUALLY (really key word) afford the mortgage longterm, you'll be fine regardless of a housing bubble burst

>>28796574
kinda this.
from math perspective mortgage is better. from peace of mind perspective buying it outright is better.
you have to decide what is more important to you. peace of mind or potential gains.

yo wtf.. i wantd to ask this question today but the thread didn't get posted despite me getting a 'post successful' window.. now this is posted and it's also almost the exact same wording i used. this is nuts

>>28797044
>peace of mind perspective
Get out. Please leave. This is the mentality that children or women have

>>28797496
stfu faggot

>>28797503
>He doesn't manage his risk
you'll be one of the first to be shaken out the next time bobo rears his cuddly head

>>28797913
a mortgage with interest under 2% is hardly a risky investment, lol

>>28796739
How the fuck did you get 1.9%? I just got 2.75% and they told me that was about as cheap as it gets. Fucking lying banker kikes

>>28798221
Im Canadian, rates are low as fuck here right now. 2.75% is still good and might be the lowest they can offer. I also went through a mortgage broker who shopped around at a bunch of different banks for the best rate.

>>28798096
>>28798310
>Canada
Ah, I'm sorry Anon, I didn't know.

>>28796273
A personal property, just buy it or at least most of it depending on what you do with your remaining money. If you're buying to let, you can honestly leverage over 80% and be fine because the properties pay for themselves.

Check out celsius. you can get a 0.7%APY loan using your crypto as collateral. that way you dont sell your crypto, and it goes up in value.

>>28798670
This is next level what rich people do. You NEVER sell you assets. You borrow against them the acquire more cashflow and assets.

>>28796657
Convince some landlord to let you lease a larger apartment and Airbnb the extra bedrooms to offset your rent, or take the vanpill.

I literally have 150K+ cash but no income so i cant get a mortgage, meanwhile people with 3% down, no savings, and meme jobs get them all day.

>>28799147
most of us are NEETs with no income so paying any loans is impossible without selling the assets

>>28799644
Rich people dont have incomes either and if they do its in dividends or tax advantaged forms of income. Only normal fags get fucked making incomes.

>>28800421
so let's say I want to buy a house/apartment. most of my networth is locked in crypto.
would you advise me to take a loan by using crypto as my collateral and slowly repay it back over time with my crypto profits? or is in the case of crypto better idea to sell it completely

>>28796273
Right now there are benefits to both. There is nothing wrong with wanting the comfiness of owning outright, but taking out a good mortgage right now is essentially free

>>28797503
>he doesnt understand that shit can go wrong

>>28800643
If its possible yet.

>>28796618
Interest rates are quoted on an annual basis