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Student Houses For Sale

Shane Said:

Should I buy a house or use savings to pay off student loans?

We Answered:

I would put the money towards the loan if it were me. Get that student loan out of your hair asap. You take home 4k a month I assume, so over the next year set aside 2k as a down payment to a house - make double or triple payments on the last 6k of the loan and in a year you'll have a decent down payment for a house and that loan should be almost completely gone. You'll be able to get into your house without another big loan hanging over your head.

Most of the case for buying a home will still be there in a year. Interest rates are not going to go shooting back up anytime soon. There will still be plenty of houses for sale. As for the 8k tax credit, it's a little bit of a help but when compared to the hundreds of thousands that you'll end up paying for a house 8k is maybe 2% of that. Not to say that it isn't some help but in your case I think paying off the student loan would be the priority.

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