Updated 9 months ago on .
Mortgage Way-Forward? Thank you!
Greetings! Requesting feedback in regards to our current mortgage. May you please share your preferred COA along with any helpful information (pictured below). Thank you.
SPOUSE A believes majority of monthly mortgage payments is allocated to interest (±90% interest, ±10% principle)(amortization interest table). Growth of assets shall not outperform current 90% monthly interest on current $665,000 mortgage principle. Once mortgage paid off, gained income may then be reinvested into assets placing finances in a better overall position long term.
SPOUSE B believes utilizing mortgage loan to purchase rental property shall increase overall income. Increased income and holding onto existing brokerage accounts shall allow for $665,000 mortgage to eventually be paid off placing finances into a better overall position long term.
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