Which property should I finance?

[Cheryl Stevens]

Hello Everyone,

My husband and I live in Maine and want to buy a home in Florida in the $250K-$300K range. It would most likely not be a rental. Our home in Maine is not mortgaged. It would probably appraise for $500-$600K. We also own an investment property in Arlington, VA that is not mortgaged. It is appraised at $750K. Which property should we finance? The new house in Florida, our home in Maine, or our investment property in Virginia? Our credit is good, but we are retired and our income is $4300/month from Arlington, VA rental (gross), $2000/month Social Security, $1100/month pension, and $2000/month from investments (stocks/bonds).

Thanks in advance for your advice.

Cheryl