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Updated almost 9 years ago,
Military First Time Homebuyer
Greetings to all! My name is Levi and I'm an active duty Marine Officer. I am headed to Twentynine Palms, CA for a three year post and intend to purchase my first home. I'm not sure what my long term plans are for it but my question is about how quickly I should pay off my mortgage. I'm looking in the $175k price range and could theoretically apply $135k to it at purchase and pay off the remainder of the mortgage from my housing stipend before I leave in three years. From a financial strategy perspective, is it in my interest to pay it off as quickly as possible or pay off a mortgage on schedule?
I appreciate the feedback and look forward to this community!
Levi