We are military and purchased a house in late 2017 using the VA no down payment loan at 3.8%. We were planning on being here for the foreseeable future but are now being PCS (permanent change of station) meaning we don't have a choice and have to move. Since the principal payment per month was so low, we have only really paid off 4-5k off our loan. We know that selling it now will incur a 10k ish loss due to closing costs and such. I am considered paying 1k more per month on the loan until we move to bring it down so that its less of a hit when we sell. Is there any downside to doing that? For reference our household income is 300k and I have 240k of student loan at 4.6% which is at 2200 a month, but I usually pay 3200 a month. That extra 1k would be diverted to the mortgage now. Should I continue to pay down my student loan or pay the minimum and put more towards the house so the financial hit is less at one time?
Submitted February 02, 2019 at 01:51PM by astrofresh http://bit.ly/2Wzbo8y
