Updated almost 5 years ago on . Most recent reply
Principal pay down on rent house
I have a rent house w/ a partner and we have $6500 in a repair fund from accumulated rent over the years. I’m telling my partner we should put that towards principle. It’s a small $60k house and we both have some money in case repairs r needed. Our interest on the mortgage is 6.75%. Is the smart play to put that $6500 towards principle? We owe $32k.
Thanks for any advice.