Tuesday, September 15, 2015

What is the best way to mortgage a home you plan on living in for 3-5 years?


I recently graduated and got a job and am looking to buy a cheap house (~$100,000) to live in for the next few years of my life. What is the best loan to get for someone like me who doesn't envision staying at that home long term?

Also, when I do get a loan (already been pre-approved), what is the best way to pay it off. If I'm only living there for 3 years or so I don't half of my mortgage to go towards the interest of a loan expected to last 30 or 15 years. Is there a way to avoid interest or are there any tips to pay more principal and less interest? Is that a smart thing to do? This is my first time going through the process so any advice would help

Thanks!

Read more: What is the best way to mortgage a home you plan on living in for 3-5 years?