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Matt Sharp

Agent

Real Estate Agent / Sales Associate (10 years experience)

1 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Inspection

Advice

  • (1 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

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I am a first time home buyer. I plan to pay it it off as fast as I can. Is this smart?

Answer

Great question. Depends on how long you plan on owning the home.Paying off the loan fast is generally a good idea if you plan on being in the home for a long period of time.  Having years of no loan payments is always a bonus, as the extra money can be used for other investments.Most home owners are only in a home on average of about 3 years. If this is the case, then I generally advise my clients to use their hard earned money for other investments that can yield better returns.As for a down payment, check with your local 1st time home buyer programs. Most will pay a portion, if not all of your down payment for you!Hope this helps.

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