Should I put my money down on the home or pay of student loan debt when using a doctor mortgage?

Описание: Should I put my money down on the home or pay of student loan debt when using a doctor mortgage?
Early in our consultations, we have a lot of questions regarding what should I do with my down payment money. Should I put it towards paying down student loans? Should I just save it? Should I put it down on the home? These are great questions and a lot of times they end up doing a combination of many things. So when it comes to looking at where you should put those funds we need to compare what the interest rates are on the mortgages versus what the student loan interest rates are. Many times the interest rates on student loans are much higher than what you're borrowing for a mortgage, so putting funds towards student loans and getting rid of that higher interest rate debt is a lot of times the the better option. Also when comparing, should I put some money into savings? Well, when buying a home there are sometimes unexpected expenses, so having a nest egg there a rainy day fund is always a good bet if something happens to the furnace or whatnot. It's nice to have those funds available. If you've paid down student loan debt or put it down on the mortgage it's hard to get those funds back. So holding on to it even until after you've closed and bought some furniture, things like that and then making a decision is sometimes a best bet. So not putting it down on the mortgage is a lot of times a good decision and that's something that we can walk you through in deciding where those funds should go. We'll also work with you and your financial planner if you have one in making a plan on where to put those those liquid assets that you have. Reach out, we'd love to to have a consultation with you and talk further with you about that as well.