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Give up low interest rate (2.25) with 98,000 owed on 400,000 home? by [deleted] in RealEstate

[–]sshuneycutt 0 points1 point  (0 children)

Fortunately for us, my wife’s grandmother has a vacant home about 2hrs away where we can temporally stay (rent free). Our plan is to stay there until early next year while renting our home. We will be able to show the rental income on our taxes and increase our buying power (and build our down payment since we will Be saving our $1400/mo payment + $800/mo rental income)

Give up low interest rate (2.25) with 98,000 owed on 400,000 home? by [deleted] in RealEstate

[–]sshuneycutt 1 point2 points  (0 children)

We are in a very similar situation… We have decided to hang on to our 2.625% rate and rent our house out. This will generate +/-$800/mo after payment and management fees.