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Real Estate
Reply to "s/o--so how did you afford a 2 million dollar home?"
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[quote=Anonymous][quote=Anonymous]Are posters here suggesting that people actually mortgage over $1M? There's circumstances that we'd do that (and we've bought homes while we were struggling financially and while we'd qualify for a $3M mortgage). And I would be shocked if many of the many people in the same financial situation as us would mortgage as much either. [/quote] Absolutely! DH & I both in finance. Just refinanced our principle residence to get the mtg up to $2m. At 3.85% for 30 yr fixed, we would be silly not to. If we can't get a return on our cash above that rate, then we've chosen the wrong careers. Add to that the mortgage interest deduction on $1m of mtg each (we file separately), it's essentially free money to get a nice yield on. [/quote]
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