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So I'm a vet looking to get the lowest monthly payment possible. I don't like change so I'm probably getting a Fixed 30 VA Loan. I have very good credit so I'm looking at 2.75%.
The thing is that I don't plan to live at that house for more than 7 years. I plan to save up for the next one and use the money that I get for selling this house. So with that in mind, I'm assuming that the home will appreciate enough to make that choice worthwhile. But, during those 7 seven years, I understand that most of the monthly payments will be for interest and not principal.
With all this said, am I missing something to where this doesn't make financial sense to do?? I feel like it's semi-sound but I may be missing something in the details. I just don't know.
Thanks for any input :)
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- 4 years ago
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