Wife and I will have roughly 150K to put towards a house downpayment late fall of this year. This will be our primary home. House cost will be around $500K. We hope to eventually get into the real estate market to generate some passive income.
A few questions:
Should we throw all 150K at the house downpayment? We are weighing doing a 15-yr vs 30-yr mortgage.
Should we reduce our downpayment to just 20% and save the rest towards the rental properties.
We should be able to save roughly $50-75K/year towards rental properties.
A few questions:
Should we throw all 150K at the house downpayment? We are weighing doing a 15-yr vs 30-yr mortgage.
Should we reduce our downpayment to just 20% and save the rest towards the rental properties.
We should be able to save roughly $50-75K/year towards rental properties.