Submitted by Anonymous on Wed, 03/04/2015 - 18:48
Should I pay down my home loan even though I will only live in it for 3 years?
Should I pay down my home loan even though I will only live in it for 3 years?
Military family just purchased first home and may be transferred and forced to sell in 3 years. Should they work at paying down the mortgage or invest some where else?
1 Answers
Votes
Older
Newer
1
Tough question - you didnt say how much you put down - the concern for me would be making sure I had enough equity to at minimum cover the cost of selling
Remember the seller covers the agents and there are other costs - it can be as much as 8-10% of the sales price - if you hace that covered then look at what the money can make you else where - 3-4% interest is pretty cheap money
Brian Barnes
Nationwide Mortgages
Brian@Aimwithfocus.com