Quote:
Our current debt load is:
Primary Mortgage: $405K @6.25%
Home Equity LOC: $70K @ 4.49% (tied to prime so will rise as prime increases)
My student Loan: $35K @ 4.12%
Wife's student Loan: $90K @ 3%
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I would start investing, firstly in a Roth IRA for both of you. The two student loans are very low interest already. The two mortgages are tax deductible, so if you are in the 28% tax bracket, the effective interest rates are 4.5% and 3.23%.
The student loans aren't tax deductible, are they, because of your income? If they are deductible, they are even lower interest.