Finance Questions? Ask a Financial Expert for Answers ASAP
Welcome to the site. I'm PDtax, and will be helping you today.
our 1st home is worth 187k with 33k debt still left on it.We have settled on the 2nd home and the finance from the bank is all approved through mortgage financing So in total our debt to the bank will be 345k.Our lawyer said there may be advantages using our 1st home for tax benefits.
We would also like advice on how we should structure our mortgage repayments e.g partial floating, fixed, revolving credit .We would like to repay the loan over a 15 year period and could possibly sell our 1st home at a latter date