In most cases, you can save money by prepaying an amount that is greater than what you have to pay each month. When we sit down and review an amortization payment chart at the beginning of our journey to find you a home, I will compare for you monthly payments required to retire the principal and pay the interest. I think you would see a big difference in a few percentage points. Bear in mind, however, that the interest portion of the increased amount is tax deductible. As a Certified Residential Specialist serving as your Realtor and Broker , I would initially calculate your current home equity - the difference between the value of your property and the balance of your mortgage.
Pricing is an important part of selling, and influences how much is actually obtained.
With a financial analysis we can discuss the plan of buying a different property. You would have a good idea of what you could use for a down payment. In addition, we could determine a reasonable mortgage payment based on the monthly family income, the ideas of bridge loan , rent back , closing , early occupancy , appraisal value , walk through , short sale , and many more ideas in the buying process as we search for the new home. Sell first, and you are certain about your equity from the sale to put into your Hawaii home. Regarding the distinction between Leasehold and Fee Simple land on Oahu, please click the blue links in the question above for more detailed information.