I think you are well set if your time horizon is 10 yrs - Again it is a choice for you to makeThanks, added more informationNot much information to respond.
what is your investment situation outside this? like 401K,Roths and taxable. What about income without the townhome and expenses?
Edit: your previous posts suggest you are fine either wise. Do what makes you comfortable.
1) 3% is a good rate and if you are breaking even or making profit - you can see where life takes you in 2-3 yrs and then reevaluate selling. Does recasting your TH mortgage bring the monthly payment more down?
2) Ofcourse you can just sell it right away, pocket the 400K - use that bring the current mortgage to around 400K (do a recast to reduce your expenses further or pay as usual to really bring it down in 5 years)
#2 is a better choice IMO at the current cashflow rate for the TH
I was in somewhat similar situation like you couple of years ago - lower #s than you. I went with #1 with the worry that kid wouldnt be able to afford in future and there were times I thought may be #2 would have been better. Could always help with downpayment if feeling generous. Now I am past the 5 yr rule and decided to just let it go as it is cash flow +ve and I can pay off the mortgage if I wanted in 3 yrs and improve my cashflow.
Statistics: Posted by holycow007 — Thu Oct 10, 2024 10:01 pm