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<p>[QUOTE="anonymous, post: 6560434"]Let's run the numbers:</p><p><br /></p><p>Take two people. Both make the same income (and will continue to make equal pay for 30 yrs), identical credit score, exact cash in saving. </p><p> </p><p>First Person lives in TO and wants to purchase a 6 million dollar house in WLV or TO. They decide to put 25% down ($1,500,000) and take a loan for the remaining $4,500,000. They get a 4% (yes I know rates run now between 3-4%) rate on a 30 year fixed loan. Their monthly payment (before property tax or insurance) will be $21,484. Over 1 year they will pay $257,808. Over 5 years they will pay $1,289,040. </p><p><br /></p><p>Second Person lives in Texas and wants to purchase a 6 million dollar house in Woodlands/Houston area. They decide to put 25% down ($150,0000) and take a loan for the remaining $450,000. They get a 4% rate on a 30 year fixed loan. Their monthly payment (before property tax or insurance) will be $2,148. Over 1 year they will pay $25,776. Over 5 years they will pay $128,880.</p><p><br /></p><p>The difference in monthly payment for each person per month is $19,336. Let's now say that Second Person take that $19,336 and saves it. Over one year they would save $232,032. Over 5 years they would save $1,160,160.</p><p><br /></p><p>Depending upon investments and the market, Second Person could invest that amount and easily turn it into 2 million in 5 years.</p><p><br /></p><p>The questions then begs to answer, "what happens after year 5"? Person Two is investing $19,336 per month into the market vs the First Person that is only putting it into their mortgage. Over 30 years the Second Person will have saved 6,960,960. That amount could easily double or triple depending upon the smart investments. </p><p><br /></p><p>I would rather be the Second Person in Texas that has more money to invest. They also don't have their fortune tied up in their house. </p><p><br /></p><p>Show me how the Second Person in Texas makes less on the investment vs First Person in TO?[/QUOTE]</p><p><br /></p>
[QUOTE="anonymous, post: 6560434"]Let's run the numbers: Take two people. Both make the same income (and will continue to make equal pay for 30 yrs), identical credit score, exact cash in saving. First Person lives in TO and wants to purchase a 6 million dollar house in WLV or TO. They decide to put 25% down ($1,500,000) and take a loan for the remaining $4,500,000. They get a 4% (yes I know rates run now between 3-4%) rate on a 30 year fixed loan. Their monthly payment (before property tax or insurance) will be $21,484. Over 1 year they will pay $257,808. Over 5 years they will pay $1,289,040. Second Person lives in Texas and wants to purchase a 6 million dollar house in Woodlands/Houston area. They decide to put 25% down ($150,0000) and take a loan for the remaining $450,000. They get a 4% rate on a 30 year fixed loan. Their monthly payment (before property tax or insurance) will be $2,148. Over 1 year they will pay $25,776. Over 5 years they will pay $128,880. The difference in monthly payment for each person per month is $19,336. Let's now say that Second Person take that $19,336 and saves it. Over one year they would save $232,032. Over 5 years they would save $1,160,160. Depending upon investments and the market, Second Person could invest that amount and easily turn it into 2 million in 5 years. The questions then begs to answer, "what happens after year 5"? Person Two is investing $19,336 per month into the market vs the First Person that is only putting it into their mortgage. Over 30 years the Second Person will have saved 6,960,960. That amount could easily double or triple depending upon the smart investments. I would rather be the Second Person in Texas that has more money to invest. They also don't have their fortune tied up in their house. Show me how the Second Person in Texas makes less on the investment vs First Person in TO?[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Amgen
>
Amgen needs to move to Texas
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Amgen
>
Amgen needs to move to Texas
>