2
votes
4answers
241 views

What to do with savings for 3-5 years?

Here's the situation: Married, late 30's, combined income around $170k. 2 toddlers. We owe $360k on a house worth $600k. Only other debt is $20k each in student loans. 401k plans are in order. We have ...
4
votes
2answers
2k views

Should I pay off investment property mortgage

Just a little financial puzzle. Inputs: An investment mortgage with 5.5% interest rate, 100K balance and 20 years left. Saving account with 100K in the saving account at 0.5% HELOC without any ...
6
votes
6answers
333 views

How does owning a home and paying on a mortgage fit into family savings and investment?

I'm in my mid-20's, and so I am aiming at long-term growth with higher risk in my portfolio. My financial adviser is showing me some investment allocations that put my money in some growth, mid, and ...
17
votes
5answers
875 views

Where should my money go next: savings, investments, retirement, or my mortgage?

I am a little unsure where to put my money at this point in my life. I have followed all the basic advice on what to do with your money and now I am at a point where I just don't know what to do ...
8
votes
4answers
3k views

Why are monthly mortgage pre-payments applied to the back-end of the mortgage?

After having paid several years of 'extra' principal payment on my mortgage, I found that the extra monies were being applied the the 'back-end' of the mortgage instead of the 'front end'. The ...
4
votes
2answers
96 views

Paying for mortgage points vs investing that money

First time home buyer here. So I've been reading about points and how an up-front payment can save you money in the long term. At first, the numbers seem pretty convincing. For example, pay $5000 ...
8
votes
5answers
1k views

Do I end up richer paying down a mortgage or contributing to an IRA?

I have $10,000 extra cash that I can either use to pay down my 5% mortgage, or contribute to my IRA. I'm 30 years old. I hope to pay off the mortgage in about 5 years. I'm stymied, because: ...
7
votes
3answers
948 views

Joint property ownership: 2 homeowners, but only 1 lives in the home. How to fairly split mortgage payments?

If 2 people decide to invest in a house, but only 1 of them wants to live in the house, should the interest only monthly mortgage payments be: split 50/50, the person living there pays 100% the ...
5
votes
5answers
2k views

What are the differences between an investment mortgage and a personal mortgage?

I am researching purchasing a three unit brownstone in Washington DC to serve as a rental. I am comfortable with my understanding of a personal mortgage, but don't fully understand how an investment ...
17
votes
10answers
897 views

Can paying down a mortgage be considered an “investment”?

I've read a few articles online about investments, and other articles about paying down home mortgages. One thing that I've noticed is that people who advocate paying down mortgages seem to emphasize ...
9
votes
5answers
747 views

Should I put more money down on one property and pay it off sooner or hold on to the cash?

I've a huge chunk of money saved up for a down payment on a property that I'd eventually like to pay off and use as a rental. The assumption is that the property value will go up substantially over ...