Updated almost 6 years ago on . Most recent reply
Save retirement or use as downpayment
Someone I know is on rent assistance and has retirement money. Hes about to be 64 and will lose the rent assistance if withdrawing the lump sum of retirement. He is willing to use it as a downpayment but we are unsure which route is better. Will the taxes paid outweigh the interest paid on a home loan? Like would they basically cancel themselves out? Is it worth losing rent assistance? Suggestions much appreciated. Thank you in advance!