Thursday, August 7, 2014

How to calculate if it's better to rent 2nd house or sell for immediate payment of loan?

My dad is buying a house for $350,000 with a 30 year loan. $30,000 down payment with a 2.8% loan

He has a house that will net him (after fees) about $1,000 a month.

What is the math to figure out if he should RENT the house and use that $1,000 a month to pay down the mortgage OR sell the house for $220K for a down payment of

what does the math look like or where can i find a calculator for that?

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