r/personalfinance•
[deleted]

Should I pay off my debts or save for the downpayment on a house?

Debt

I am in a bind here. I am trying to decide if it is best that I save all of my disposable income towards the down payment on a house or if I should pay off my student loan and car loan. Here is the breakdown:

  • Student Loan: $25,500 @ 6.8%
  • Car Loan: $15,000 @ 0%
  • Savings: $65,000

Moreover, at the expense of saving for a house I am not taking advantage of company matching (6%) towards my 401K.

What should I do?

Posted Sep 16, 2015, 6:43 AM UTC

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