It's not that I'd suggest trying to
get a higher return elsewhere, my only concern is with your lack of savings.
Not exact matches
My current 15 year mortgage rate is 2.625 % and I am able to deduce the interest and I am
getting a much
higher return on my money
elsewhere.
And if you are an investor, you will
get much
higher returns than you can on your bank investments, or other comparable fixed income investments offered
elsewhere.
If you have the financial flexibility to make the
higher payments of the 15 year mortgage, then this might make sense — although some people feel that they'd rather use their savings
elsewhere, say to
get a better
return on it in the stock market.
Not only will you
get a highly diversified portfolio, but you'll also likely
get the
returns you're hoping for over the long term — minus the
high costs you might find
elsewhere.