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Is It Me
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I bought a condo in 2016 for 160K, and this has been my primary residence since then. The loan was 152K, at 4.125% APR. I currently owe about 139K.

My mortgage is 898 (includes taxes and insurance in escrow), and my HoA is 560.

I’ve just purchased a new home, and was planning to sell the condo. However, it looks like the maximum I can get for it is between 145 and 150K, so more than I owe to the mortgage company, but less than I paid for it originally.

If I do rent it out, the best I can do is about 1200 a month, which would still have me paying about 2-300 a month out of pocket (898+560-1200), plus any taxes at the end of the year for the extra income.

Would it make more sense to rent it out and pay the extra OOP, or sell it for the lower price and just accept the loss in value?

Missing information (sorry!): I'm in the USA. There's no prepayment penalty. Current rates are lower, but all the fees associated with refinancing may not be a possibility.

I bought a condo in 2016 for 160K, and this has been my primary residence since then. The loan was 152K, at 4.125% APR. I currently owe about 139K.

My mortgage is 898 (includes taxes and insurance in escrow), and my HoA is 560.

I’ve just purchased a new home, and was planning to sell the condo. However, it looks like the maximum I can get for it is between 145 and 150K, so more than I owe to the mortgage company, but less than I paid for it originally.

If I do rent it out, the best I can do is about 1200 a month, which would still have me paying about 2-300 a month out of pocket (898+560-1200), plus any taxes at the end of the year for the extra income.

Would it make more sense to rent it out and pay the extra OOP, or sell it for the lower price and just accept the loss in value?

I bought a condo in 2016 for 160K, and this has been my primary residence since then. The loan was 152K, at 4.125% APR. I currently owe about 139K.

My mortgage is 898 (includes taxes and insurance in escrow), and my HoA is 560.

I’ve just purchased a new home, and was planning to sell the condo. However, it looks like the maximum I can get for it is between 145 and 150K, so more than I owe to the mortgage company, but less than I paid for it originally.

If I do rent it out, the best I can do is about 1200 a month, which would still have me paying about 2-300 a month out of pocket (898+560-1200), plus any taxes at the end of the year for the extra income.

Would it make more sense to rent it out and pay the extra OOP, or sell it for the lower price and just accept the loss in value?

Missing information (sorry!): I'm in the USA. There's no prepayment penalty. Current rates are lower, but all the fees associated with refinancing may not be a possibility.

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Is It Me
Is It Me
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Objectively, would it be better to sell my condo, or rent it out?

I bought a condo in 2016 for 160K, and this has been my primary residence since then. The loan was 152K, at 4.125% APR. I currently owe about 139K.

My mortgage is 898 (includes taxes and insurance in escrow), and my HoA is 560.

I’ve just purchased a new home, and was planning to sell the condo. However, it looks like the maximum I can get for it is between 145 and 150K, so more than I owe to the mortgage company, but less than I paid for it originally.

If I do rent it out, the best I can do is about 1200 a month, which would still have me paying about 2-300 a month out of pocket (898+560-1200), plus any taxes at the end of the year for the extra income.

Would it make more sense to rent it out and pay the extra OOP, or sell it for the lower price and just accept the loss in value?