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Updated almost 5 years ago,
Three Mortgages, get a fourth mortgage or pay one down
Good Morning Everyone,
I currently have 3 mortgages and I am wondering if I should payoff one first or get a fourth one. I wish to increase my rental properties portfolio. I occupy one and two are rentals.
#1- Mortgage balance $90k, 3.3% APR, rental ($200 cash flow), 15yr mortgage
#2- Mortgage balance $220k, 3.5% APR, rental ($450 cash flow), 30yr
#3- Mortgage bancle $420K, 4% APR, residence, 30yr
I am currently paying extra principal in all properties, should I focused on saving a 20% downpayment for another property, keep paying extra principal on all of them, focused all my resource in paying #1? Thank you.