HomeGain on Facebook HomeGain on Twitter HomeGain on LinkedIn HomeGain on YouTube

Does anyone have input on whether it would be smart to use sale proceeds of selling one house towards paying down another mortgage? When I look at the principal I paid down at the end of the year, it makes me sick!

By newbiegurl09992 from NJ Mar 17th 2015
Powered by:

if you talk to any financial planner, they all will tell you "Cash is King".. Realistically, if you have another mortgage, it's very likely your interest rate is at or below 4%.. and with the right financial adviser/planner, it's conservative to say you would make more than 4% on your money in most investment vehicles.. so if you can earn more than your spending, yet be allowed to write off the interest you're paying, then those funds should absolutely go into a brokerage account. If your current loan terms "Makes you Sick!!", then I would suggest you refinance into a 15 year mortgage.. the payment will be higher, but at today's' rates, from the very first payment nearly 60% of your payment would go towards principal, and you would still have an interest write-off.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 17th 2015

Searching Today's Rates...


HomeGain offers free real estate tools and services to compare real estate agents, research home prices, and view homes for sale, foreclosures, new homes, and rentals. HomeGain provides real estate information including articles on home buying, home selling, and mortgage rates. HomeGain's quarterly home values surveys are a hit with the top media sources, realtors, and home buyers and sellers. Did you know, HomeGain pioneered the original online home value estimates tool back in 1999?