Should I pay off my home mortgage or student loans first?

+1 vote
asked Aug 4, 2017 in Other-Finance by Racheial (210 points)
I have a home mortgage that I would like to pay off soon. But I also have A student loan that needs paid off.

Should I pay off the Mortgage first or should I pay off my student loans before I pay off my home mortgage?

1 Answer

0 votes
answered Aug 5, 2017 by Clarissa22 (240 points)
I'd recommend getting your mortgage on your home paid down sooner than your student loans.

Having a home mortgage paid off is the most important thing. If your income drops and you have your mortgage paid off you can still have a roof over your head as long as you can afford to pay the real estate taxes.

The worst thing that can happen if you can't pay your student loans is they'll be sent for collections.

Keep paying your student loan off but put more money into getting your mortgage and home paid off.

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