Re: Pay off car or buy house?
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Also, since you're young and self employed you may look into buying a duplex. Your renter will pay part of the mortgage which will give you a lot more feedom.
Finally, depending on the interest rates of your car loan vs a home equity loan you may save money each month by paying off your car and getting a home equity loan for the downpayment. (80 conventional/ 15 home equity / 5 down payment) No PMI with this method.
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I'm not interested in buying a duplex. There isn't much in terms of that in the area and I'd rather not deal with being a landlord.
Getting a home equity loan for the downpayment seems like it might be more trouble than it's worth. Like I said, if I work my ass off, I can probably pay off the car by the end of the year as well.
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