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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?


Anonymous's picture
Anonymous
4-03-2015

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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

brian1 | Asked on 2015-03-04

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