You do feel the pinch though, you have to sink 40 odd grand into it to get it to wash its own face which is a big pinch! With interest rates historically low, I don't understand your rush to pay down the debt, especially when you get relief on the (relatively low) interest anyway. Cash is king and allows you more freedom should something come up-you don't know what's around the corner. Lots of people would love to be able to borrow at these historicaly low interest rates but can't and you're itching to get out of it. Think carefully before committing the cash into the property. It's covering the difference in interest anyway. Perhaps you could look at getting a better return for your 85k somewhere? If interest rates change or tax codes change to remove the advantage, you can still pay down the debt then.