Re: Payoff Mortgages Early? - Landlord Forum thread 359150

Re: Payoff Mortgages Early? by Jason on March 22, 2019 @04:52

Thank you for responding. I went with the 30-year mortgages because I figured that I could always pay extra towards the principal, but that I might be spreading myself too thin for a 15-year mortgage, you know what I mean?

Property A: Put down 3.5% (purchased Jan 2013)
I have approximately $11k until the PMI can be removed.

Property B: Put down 20% (purchased Nov 2016)

Property C: Put down 20% (purchased Dec 2017)

According to my calculations, if I pay an additional $200/mo towards the principal ($200/mo total for 3 props), they will all be paid off when I'm right around 54-years-old.

Any advice for when I start looking for another property? Do you think obtaining a HELOC would be a good idea to use as a down payment since it'll have to be a Conventional loan.

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