Howdy, long-time lurker. Always fun to read people's questions, successes, and failures. Anywho-
I recently got married. I (31m) am an physician, and I have a 500k mortgage for 2.4% 10/1 arm, 30 year amortization, 5 years into the fixed rate. My wife (34f), is also a physician currently in her training, and has 300k in student loan debt at the absurd ~7% federal rates. A few thoughts:
- Should i seek a second mortgage or heloc to pay off the student loan and secure the debt on the house, to be able to deduct the interest payments?
- Should I simply refi the student loans with a bank like first republic and aim for the lowest rate that i can afford to pay back?
- we've considered PSLF (public service loan forgiveness) as she'll coming up on 6 of 10 years of payments on the loans, but it is unlikely that she'll find a job she wants at an eligible institution to reach the 10 years of payements required.
- My mortgage rate is so good that i'm hesitant to refi my 500k mortgage.
- Any other tax-advantaged you all can think of to make the 300k slightly less painful?
I'm eager to hear suggestions. thanks
Submitted January 29, 2017 at 03:55AM by fofolala http://ift.tt/2kAZTdF
