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Updated over 6 years ago on . Most recent reply

User Stats

18
Posts
1
Votes
Nick Pacheco
  • Rental Property Investor
  • Elk Grove, CA
1
Votes |
18
Posts

Pay off all student loan debt before buying investment property?

Nick Pacheco
  • Rental Property Investor
  • Elk Grove, CA
Posted

I currently owe ~$60,000 in student loan debt at an average interest rate of 5.7%. Would you recommend that I save for a downpayment on an investment property (owner-occupied, FHA 3.5% or 20% down conventional loan) and pay the minimum loan requirement? Alternatively, should I pay off all student loan debt before purchasing my first property?

I am leaning towards paying some principle + interest for my student loan each month, but saving for 3.5% down-- living in the house and renting out extra rooms.

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