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Updated about 3 years ago on . Most recent reply

Candice Menard's profile image
Candice Menard's profile image
Candice Menard
  • Real Estate Broker
  • from Lake Charles, LA
  • Member since Jan 6, 2021
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Candice Menard's profile image
Candice Menard's profile image
Candice Menard
  • Real Estate Broker
  • from Lake Charles, LA
  • Member since Jan 6, 2021
Connect
Candice Menard
  • Real Estate Broker
  • Lake Charles, LA
0
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9
Posts
Creative Real Estate Financing

Loan option question

Candice Menard
  • Real Estate Broker
  • Lake Charles, LA
Posted

Situation-I am using a non-recourse loan along with my solo 401(k) funds to purchase a rental home

Borrowing-130,000.00

Loan term options

  1. Fixed rate20 year loan 6.5%
  1. Variable rate 25 year loan

10/1

5.9%

  1. Variable rate 25 year loan

5/1

5.5%

  1. Variable rate 25 year loan

3/1

4.9%

I am planning to pay an additional $500.00 to $1000.00 towards principal each month.

Question-Would you mind giving me an opinion on which of the 4 options would serve me best and why?

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