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Real Estate
Reply to "Do people with 1.8mil+ houses have mortgages?"
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[quote=Anonymous]Most people have mortgages even on large balances homes. You can do a a typical 20% down comfortably to a mortgage size of $2M. Over that they can be done but LTVs start going down. Most people buying over $2.5M take mortgages for amount that are easily obtained. They like borrowing cheap money but not if super difficult. Accordingly it would be common to see people buying $3M houses still taking a mortgage for $2m because taking it for more is much more complicated. A person with an $8M house might have a $4M mortgage because a 50% LTV loan is easy and so on. [/quote]
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