Re: Home loan or No?
Pros to having a mortgage?
None.
Yes, interest is tax deductable, but you're still paying interest. If you pay $10,000 in interest, it will save you about $3000 (give or take, depending on yor tax bracket). So, you still spend $7,000 in interest.
Or you can buy the house outright and NOT spend $7,000 in interest.
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