Hi -- I lost the track of all the loans, so I am reposting here... recap of the loans -- do I have the PMT amount (voluntary + minimums) right? Also I believe tb has used cash to pay off some CC loans...or have I missed anything?
Credit Cards RATES? Paid off?
1 $10,828.00
2 $1,734.00
3 $572.00
4 $255.00
Additional Loans: Orig. $ PMT Term Owing$ Yrs left Rate
Car 1 $40,127 $602 6 $26,483 4 2.490%
Car 2 $24,149 $383 6 $17,031 4 3.490%
HEL $18,664 $148 20 $10,498 8 7.240%
401k Loan $35,000 $694 5 $31,082 5 .000%
TSP Loan $15,000 $266 5 $13,627 5 .000%
Personal Loan 1 $16,000 $321 5 $14,233 5 7.500%
Personal Loan 2 $25,000 $425 7 $17,612 7 10.750%
Mortgage $340,000 $1950 20 $329,935 19 3.375% (itemized deductions)
Total Committed Payments made to non-business Loans: $2839/mo + cc's if not paid in full + $1950/mo for Mortgage
= $4789 per month
Total Loan value to be paid off in 5-7 years: $130,566 +$13,389 cc's ? +$1950/mo mortgage + interest on loans as they accrue.
Okay -- I have to ask -- why did you take out $90k in loans in the past year? (401k, tsp, hel, personal loans)... Was this to pay off cc's or SL? Renovations? My original thought was that you were buying another rental, or even a down payment for your current home?
Reference only: "BUSINESS LOANS" -- evaluated on a business income - expenses basis, not included above.
RENTAL PROPERTIES (Gross Rent)
FMV BAL RENT PYMT TERM RATE
DUPLEX $225,000 $181,690 $1,825 $1,540 20 3.25%
CONDO $160,000 $95,230 $1,650 $1,050 15 3.375%
SFH $120,000 $69,350 $800 $670 30 4.125%