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From: Gary Hunt
I am going through the motions of purchasing my first investment property. The dilemma I have is whether to finance my property with an interest only loan or a principle and interest loan.
I have paid off my mortgage so I don’t have any other financial commitments and I earn a pretty good wage.
I have sought advice from a number of people who have espoused the virtues of both loan types. My tax agent recommends the P&I loan.
Can anyone offer any additional advice? Perhaps advantages/disadvantages of these loan types?
Gary
I am going through the motions of purchasing my first investment property. The dilemma I have is whether to finance my property with an interest only loan or a principle and interest loan.
I have paid off my mortgage so I don’t have any other financial commitments and I earn a pretty good wage.
I have sought advice from a number of people who have espoused the virtues of both loan types. My tax agent recommends the P&I loan.
Can anyone offer any additional advice? Perhaps advantages/disadvantages of these loan types?
Gary
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