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Updated about 1 year ago on . Most recent reply

Jessica Stanek's profile image
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Jessica Stanek
  • Member since Dec 27, 2023
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Jessica Stanek's profile image
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Jessica Stanek
  • Member since Dec 27, 2023
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Jessica Stanek
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Buying & Selling Real Estate

Deciding down payment considering 6.625% interest rate

Jessica Stanek
Posted

Hi y'all! After an appraisal, I have the option to put down 14% instead of 20%. With this mortgage, that would save me $22,500. It would be nice to have that cash on hand for emergencies as well as to furnish the house (I wouldn't be investing the money). But considering my interest rate of 6.625%, I'm wondering if it makes sense to pay it towards the mortgage now. Thoughts? 

Upstate New York, New York
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