gaewsky1 Posted February 6, 2011 Report Share Posted February 6, 2011 (edited) If you knew you would be trying to sell your home in about 2 years is it smart to continue to make extra payments toward the principle of the loan or put that extra money into a savings account for a downpayment on the new home? Of course we would also have the money from selling the current home to go towards the new home. Or is it basically the same thing? Hopefully this makes sense. Thanks. Edited February 6, 2011 by CementHead Quote Link to comment Share on other sites More sharing options...
John Bruh Posted February 6, 2011 Report Share Posted February 6, 2011 It just depends on your equity position in your current home. If you are paying pmi I would save for the new home to try to avoid this. If you're not paying pmi you must be sitting good in your house and it would just depend on the next home how much down you need to be at 80%. I'm going to list my house this month and I'm saving all money for the next place. Quote Link to comment Share on other sites More sharing options...
KillJoy Posted February 6, 2011 Report Share Posted February 6, 2011 Pay enough / sell for enough, that you do not need to bring $$$ to the table. :thumbup: KillJoy Quote Link to comment Share on other sites More sharing options...
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