I been looking at getting a property cash, but there is a huge tax advantage in getting a property on a 30 year mortgage but paying it off in 3-5 years when my income would be lower so less taxes.
In my case I was planning on limiting my income to 50K a year, and applying for a home loan. Does anybody knows if banks will loan to retires in PR with incomes around 50K???
Anybody purchased using the banks after being retired?
While I can purchase cash I been made aware that there is a huge tax advantage in doing it the way I said above.
Any input?
Thanks