^Thanks so much for the feedback, and suggestion to ask on the real estate board. I might do just that.
How long are the 0% financing?.....ranges through Aug 2019
What are the rates after?.....Not sure but definitely higher than a mortgage; but I wouldn’t pay them anyway as I intend to pay them off before the expiration, one way or another
How much do you anticipate paying off prior to losing 0% financing?....I would ‘t want to pay off more than $10k through the refi; I already hate the idea of paying even 4-5% on any of it, but right now time is more important than money.
Paying the min. balance for all cards and other life expenses, how much are you able to save towards the 20% for future house?.....Unfortunately It’s not as easy as just paying the minimums. I am also putting cash aside each month to grow in a high-yield savings, so that I will be able to pay off the cards by their due date. I didn’t plan on saving for a DP until I am certain the debt will be taken care of before it begins accruing interest. I try to save at least $1500, aiming for $2000 each month (about 50% of my take home... it right now that all is pinned for the debt payoffs.
What is driving the May/Oct. 2019 deadline?....By my bday or within 6 months.
What is the rental making you?....After PITI only about $250. But it’s not the best case scenario for a typical rental. I didn’t purchase it to be a rental. I’ve been renting it to friends and coworkers over the years below market rate. The tenants act as the property managers taking care of any minor issues that come up, often times out of their own pocket. My family and I also maintain partial use of the property (recreational), since there is a second building and separate yard space. As part of the agreement, the tenants pay the utilities, including any I use. So it’s a good deal for all involved. I raise the rent each time new tenants move in.
Would it be better to make it your primary residence for a few more years prior to buying another home?.....unfortunately it’s 30 min away in a different city, and I’d prefer something closer to my grandmother since I intend to continue working from her house so she’ll have someone there during the day. She’s 88 and still can drive and gets around well, but there are little things throughout the day that she is used to having help with.