My husband and I are thinking of buying our first home (a condo). We have excellent credit and no credit card debt, but we do have a $16,000 personal loan with an 18 percent interest rate. The loan is current and our only other monthly expense is a car lease of $185 per month, insurance, groceries, utilities and the like. Would it make more sense for us to continue to pay on the loan as is (and refinance at a lower rate when that becomes an option) or to get a mortgage high enough to cover the outstanding loan?
2006-08-02
11:15:45
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9 answers
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asked by
Anonymous
in
Renting & Real Estate