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Priya S. · · Edited

Interest only on the investment, principal and interest on the home?

Our broker suggested interest only on the investment loan and paying down the home loan as fast as we can. Is that still the usual setup? Edit: thanks everyone. Booked a call with our accountant before we change anything.
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4 replies

  1. Ahmed H. ·

    It's common. The home loan interest isn't deductible, so it makes sense to clear it first.

  2. Tom W. ·

    Interest only rates are usually a bit higher, and the term ends. Plan for when it reverts.

  3. Sarah M. ·

    Run it past your accountant too. Your tax position decides how much it helps.

  4. Priya S. ·

    Thanks all, very helpful.
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