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I have a mortgage and a home equity loan

Asked Jul 4, 2012, 11:50 AM — 1 Answer
I have a fixed rate mortgage 6% and a variable rate equity loan now @ 2.5%. My equity loan amt is 2X my mortgage
Should I pay extra on. mY mortgage because of the higher interest rate or pay extra on the equity loan because the rate could go up at any time

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ScottGem Posts: 58,018, Reputation: 28115
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#2

Jul 4, 2012, 12:16 PM


Always pay off the higher rates first.
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