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Updated over 6 years ago,
Pay off mortgage quicker or use use that money for another house?
Hey all
I finally bit the bullet and purchased my first place. It is a 3bd/2bath SFH that was ~190k. My monthly payments are $1200 (PITI, Interest is 4.75%) and I will be having 1 roommate pay $500 and the other pay $425, while I live in the other room for now. All in all for $275 a month I own my very first property.
My question is, would you recommend paying down the principal quicker, or saving the excess money Id use and use it for a down payment on another property?
What do you guys think?