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You don't say what you're currently paying monthly on your existing mortgage. For 580,000 @ 4.5%, you would have a $6000 monthly payment to pay it off in 10 years. Mortgage rates are low, I would lock in the low rates for either 10 or 15 year full amortization. Mortgage payments, property taxes, fuel and salaries are the big budget items. Can't do much about the other 3 in a significant way. This becomes a selling point to buyers as well, a reduction in monthly carrying charges, even if it is 10 years away.
Re: the Fannie Mae 10% maintenance reserves, I think that only applies to condo's.
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