Is paying extra to my principle a smart move?
I've recently bought a house with a VA 30-year fixed mortgage. Since I'm military, I know that I will be moving out eventually, probably somewhere around 4 to 5 years from now. Is it financially sound of me to pay extra into my principle? With such a relatively short time frame, will the extra equity really make that much of a difference when it comes time to sell? I like the prospect of owning more of my home, but part of me thinks I should be bulking up my savings more, or perhaps investing somewhere else.
Dear Mr. Rocke:
I believe your gut feeling is right on target. Since you are military you will not gain much in putting it on the equity of your home. Invest on something that is sound and will give you a good return.
Lily Fava-Mann
lily_fava@hotmail.com
http://www.lilyfava-mann.com
(318) 366-6377
Didn’t find what you were looking for? Ask a question!
Ask a question
|
|
|
|
|||||||||||
|
|
|
|
|
|
Fair Housing and Equal Opportunity