re: Another Dave Ramsey Thread

quote:

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Ace Midnight

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Or others?
Do you have an mortgage interest rate limit that you feel is worth paying off early rather than saving while paying the regular payment?

I ask because, I am just purchasing a house (double with 1/2 rented) with an interest rate around 4.6% @ 30 years.

I have the capacity to begin paying $300-400 extra/mo.

I have no other debt and am disciplined.

My intent is to hold this property long term as it's a sound income earner. I think it would be wise to pay the regular amount and save the extra $.

I obviously would need $ to buy my next property. Do you believe cash on hand is more valuable(to me) than the additional equity in the long term investment? Or is the interest rate 4.6% at a high enough level I should consider paying it down quickly?

Sorry, not trying to hijack. I feel this fits into this thread. Lots of info to consider and just curious what those wiser than me think.

ETA: House is in the Uptown NOLA area. I believe the values are unlikely to depreciate and finding tenants will take days not longer.

TIA