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Warburg, AB | How long is left on either note until a renewal? What’s the most you can pay penalty free? If you have a couple years left on either, max out the penalty-free principal repayment. Last summer I locked in a 10-year fixed rate, very happy with it, and I can pay back up to 10% of principal per annum, penalty-free. I have 4 other notes to pay off first, but when they are gone, I’m targeting the penalty-free portions, building up some cash, and when my residential mortgage comes up for renewal, I’ll have a wad of cash I can throw at it before renewing. | |
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Which real estate debt would you pay down first?
