Quote:
Originally Posted by CRCRFT78
I've been thinking about cashing out my IRA and buying a house. Of course I woud incur the tax hit and te early withdrawal penalty but I think getting back into a house as opposed to renting could be a good idea. My rent payment can become a mortgage payment and be cut in half. The half I would save I can then contirbute back into a retirement account. Any opinions on this?
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It depends on how old you are...If you are low 30's then maybe it is a good idea..You have plenty of time to regain Investments..
I just don't see rates being lower ever again...At 3.75% with deductions and Inflation, you are borrowing for almost free...
Renting ? You never gain anything...