In this scenario what are the pros an cons in choosing either .
Couple were approved for 500k mortage but only required 80% of it as had built up the 100k in savings...At first look I thought it would have to be the shortest term to go for.
But would be interested to see what other people think.
Say an interest rate of 3.25% for this exercise.
Property Val. 500k
Loan 400k
Couple were approved for 500k mortage but only required 80% of it as had built up the 100k in savings...At first look I thought it would have to be the shortest term to go for.
But would be interested to see what other people think.
Say an interest rate of 3.25% for this exercise.
Property Val. 500k
Loan 400k