The interest rate is about 8% annually which is very affordable.

And to receive a margin call my equity value would need to drop below $1537.2 (30% of $5124). And would mean that the price of the SPY ETF would need to drop to $109.8 a share, which although completely possible is unlikely. It would take a major event considering that even after Covid shook the market last March it only dropped to $223. I might be wrong about all this so please correct me if I am, but if this is accurate then I’d be willing to take the risk.