We will be PCSing this summer and renting our house out. We have a 3% interest rate on the house. With the extra money from renting the house out, after we have saved up 10k for damages and repairs should we put the extra money into the loan to pay the house off or put it into a HYSA where we would get around 5% interest?
Posted by flamklr
3 Comments
To be honest, that’s a question you will have to answer yourself when you have the 10k saved.
Do you want to pay the house off sooner rather than later? Do you plan on living in the house 15-20 years down the road?
These questions and answers are why I’ve sold the last 2 places instead of renting. I never planned on moving back and living at either place.
I wouldn’t. I would want a much larger savings for the rental itself, yet alone my own emergency fund. Then, for now, HYSAs win.
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