Should I use money from property sale to prepay an existing house loan ?

POSTED BY Landcruiser ON February 8, 2014 7:48 pm ONE COMMENT

Hi,

Is it correct to use funds from a property sale to close or prepay an existing housing loan. I would like to invest in another property, but want to close the existing loan partially and avail a second home loan. I have read there are more tax benefits to go for a second home loan as the entire interest will be exempted from tax. Can someone explain this also?

One reply on this article “Should I use money from property sale to prepay an existing house loan ?”

  1. ashalanshu says:

    Dear lancruiser, please read past discussions here in the forum and you ‘ll get all the info.

    Thanks

    Ashal

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