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Updated about 6 years ago on . Most recent reply
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Pay off all student loan debt before buying investment property?
I currently owe ~$60,000 in student loan debt at an average interest rate of 5.7%. Would you recommend that I save for a downpayment on an investment property (owner-occupied, FHA 3.5% or 20% down conventional loan) and pay the minimum loan requirement? Alternatively, should I pay off all student loan debt before purchasing my first property?
I am leaning towards paying some principle + interest for my student loan each month, but saving for 3.5% down-- living in the house and renting out extra rooms.