Reality is a little more complex—you would likely have to pay taxes on the interest, dividends, or investments gains earned from a portfolio. Meanwhile, the interest you pay on a mortgage may be tax deductible, so the actual equivalent interest rate may be slightly different. While everyone has slightly different tax situations, the lost tax deduction should offset the tax on your investments. As
Some lenders may also require a potential borrower have one or more months of "reserve assets" available. In other words, the borrower may be required to show the availability of enough assets to pay for the housing costs (including mortgage, taxes, etc.) for a period of time in the event of the job loss or other loss of income. Whether for purchase or refinancing, Dort Federal mortgage
A shorter term loan allows you to pay off your loan faster. Rates are effective and are subject to change at any time. Rates locked in today for 60 days have an expiration date of Rates apply to loans up to $424,100 (also known as "conforming mortgages"). When searching for a loan program, you will be presented with a variety of options from a six-month adjustable-rate mortgage (ARM) to