I am close to closing on a house and have the cash to buy it outright. We are in the process of P&S and I was wondering if I should pay cash? I can pull a 30 year mortgage at 4.75% . What cost advantages do I get if I pay cash? Is there less closing fees? If so how much? I was thinking about financing it with a 30 year mortgage and paying it all off within a year just to be safe since the bank will thoroughly do title checks etc. But My friend told me I can hire an attorney to do the same and pay cash. Is it smarter to get a mortage then pay it off within a year?
Read more: Should I pay cash for a house?
