Quote:
Originally Posted by KTP
Hmmm, I dunno. The mortgage is tax deductable, the loans arn't? And won't they be at a higher interest rate than your home loan? Certainly up to you though.
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I'm actually not sure what the interest rate on the loans will end up being. Right now about 1/2 of the amount is at 3.8% (less than mortgage) and 1/2is at 6.25% (more than mortgage). Since they aren't in repayment yet, I haven't really looked at what my consolidation options may be and how that will affect the interest rate.
I hadn't factored in that the mortgage interest would be tax deductible. Thanks!