Why

keep it out of litigation?

paid in full makes it an asset that can be sued for, his age, anything can happen.

???????? is that not how it works anymore?

Homestead is protected typically, beyond that people who pay cash typically have umbrellas

Yes, but not in California. I would be checking out motor homes.

You are putting your assets into something that is not going to be redeemable until you sell or die. Put enough in it to avoid having to pay mortgage insurance and invest the rest, which will be an accessible asset if you need it. Your equity in the home will increase, and the payout from it will be substantial when you sell if you stay there long enough - probably ten years at least. Finance it for 30 years and refinance when necessary if a lower rate materializes that is substantial enough to make it worth it. Keep the payment as low as possible.

My scenario is this - in 2000 I paid $172,000 for my house and could have paid cash if I wanted to. Put $35,000 down to avoid mortgage insurance. At that time, my payment was $850/month. My house is now worth $325,000, and I have refinanced twice with a current rate of 3.9% with a payment of $530/month. It won't be paid off till I'm 101, but I don't care. If we die while still in the house, my children will get the proceeds from the equity. If we have to make other living arrangements, we will get the proceeds to go toward whatever place we wind up in.

I know there will be a lot of opposite opinions about this, but I'm happy with my decision and didn't have to think twice when I made it - after talking with a couple of finance folks. Have had a couple of friends in a similar situation do the same thing. As far as I'm concerned, owing a paid-for house is not what it may be racked up to be. Depends on the house and the financial status of the owner, however.

Can I borrow like 50gs

Hypothetically if I had 300k to spend I think I would put 50k down on six $200k houses, live in one and rent out the other 5.

I agree with fishslime complete. I can do better in the market than my mortage%
As of now my portfolio is returning 9.8%.

How would a single purchase that size affect you come tax time?

Just did-
We don�t plan on selling, passing on to the kids-
They can do what they want at that time-

Yep. Been there, done that.

Sold my last house in 2014 when the fracking was booming around here. Mortgage on it was only 2.5%. Was planning on leaving town so I rented for a bit. Ended up sticking around so in late 2016 while the housing market here was slow I snagged a new construction home for 50k below asking price and a 3% rate on current mortgage. VA backed loan so no PMI and zero down. Could just about throw a dart at a stock and make more then that. If the economy tanked or I lost my job I don't have to worry about being cash poor.

yes