AN – How much do you have to pay in points to get 4.5%?
In my example, my rent is 1800 and I’m looking at 2645 in payments (not counting PMI), not counting potential special assessments.
Of course I didn’t calculate mortgage write-off (while we can still deduct it – however long that will last – rules changing along the way).
I think even if I take the tax write-off, even w/only the minimum down, I am still paying much more than rent, plus exposure of maintenance/special assessment.
I think if you are going to say mortgage=rent, it would be more accurate to take in the full scope, P&I, property tax, any HOA/MR, any special assessments/maintenance and/or necessary repairs, minus tax write-off.
I can’t justify it in my example – and I’m being conservative w/my numbers and only shelling out 30k upfront.
